The German state continues to sell the 50 thousand Bitcoins it holds. Important transfers took place today from wallets monitored by Arkham, a blockchain monitoring and analysis firm. A total of 400 BTC, 200 each, were sent to Kraken and Coinbase exchanges. The total value of BTCs is around $25 million.

There are $2.8 billion worth of Bitcoin

In 2020, the German government, in partnership with the FBI, seized thousands of Bitcoins from the pirate movie site Movie2K. The number of units was finally 50 thousand. Here the Germans decided to sell these BTCs years later. Last week, more than 1700 Bitcoins were sent to Kraken, Coinbase and Bitstamp exchanges and sold. The Germans still hold $2.8 billion worth of Bitcoin.

Effective in the declines

These sales, which are thought to have had a limited impact on Bitcoin’s decline, combined with Mt. Gox exchange’s refund announcement and geopolitical tensions, the Bitcoin price fell to the level of $60,000.