German Government’s Bitcoin Sales Contribute to Market Decline
Key Points: The German government has been selling bitcoin seized from a piracy website. Recent sales include 900 bitcoins in June, 3,000 last week, and 2,739 on Monday. Bitcoin prices fell below $55,000, the lowest since February 2024. The overall crypto market lost over $170 billion in 24 hours. The BKA currently holds 32,488 bitcoins, worth about $1.9 billion. A seizure from Movie2k.to marked Germany’s largest bitcoin confiscation. Some officials argue that bitcoin should be held as a strategic reserve....