German Government Sells Most of Its Bitcoin Seizure

IconCryptoNewsTerminal Staff09 Jul, 2024

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German Government Sells Most of Its Bitcoin Seizure

The German government has sold more than half of the Bitcoin it seized from a movie piracy site last year. According to The Block, the government currently holds 22,846 BTC, after selling 2,480 BTC through exchanges such as Coinbase. It is believed that the government entered into a trading contract with the exchanges, which returned the BTC when it was not sold within the target price range. The German government seized 50,000 BTC from Movie2k.to in January 2022, making it one of the largest government seizures of Bitcoin to date.