Since 19 June, the German government has sold 7,583 BTC worth about $434 million at the current cryptocurrency exchange rate. These coins were previously confiscated, and similar transactions with them continue even now. However, the mass sale of bitcoins does not please some members of the Bundestag: German activist and member of the German parliament Joanna Kotar said that the mass sale of BTC is not “reasonable and productive”, because digital assets are perfect for diversification of treasury assets and protection against currency devaluation. Accordingly, it suggests keeping crypto in wallets and getting stuck with such transactions.

Right now, the German government’s wallet holds 41,226 bitcoins, which are valued at $2.28 billion. You can follow the current state of the address on this page.

At the same time, representatives of the authorities have already conducted bitcoin transactions today. As you can see, most of the transfers (in red) were returned (in green).

However, sending 547.439 BTC to the Flow Traders platform went unanswered, which means that today the government got rid of the first cryptocurrency equivalent of $30 million.

The German government has not indicated whether it intends to sell the remainder of the confiscated BTC. As we have already noted, 41,226 BTC with a total value of $2.28 billion remain on the wallets of government agencies. This is an impressive sum, the sale of which in a short period of time could seriously affect the entire market.