Germany Empties Bitcoin Wallet

Germany Completes Bitcoin Sell-Off After Weeks of Transfers

Germany appears to have sold all its bitcoin seized from the defunct piracy site Movie2K, transferring the final 3,846.05 BTC ($223.81 million) to Kraken on Friday.

What’s the significance: Germany’s sell-off is widely regarded as one of the reasons as to why Bitcoin could not break past $60,000.

The details:

• Germany seized 50,000 bitcoins valued at over $2 billion in January.
  Recent transfers included BTC sent to multiple exchanges like Bitstamp, Coinbase, and Kraken.

However: Not all lawmakers agreed with the sell-off, with at least one German legislator expressing opposition.

What’s next: Many are hopeful that with the sell-off over, the price uptrend would begin.

This article is published on BitPinas: Germany Empties Bitcoin Wallet

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