This is quite unusual and unconventional; the German government buys $23m worth of Bitcoin but now holds 90,000 PCR tests. Earlier this week, the German government disposed of the rest of its Bitcoins.
Analysis platform Arkham Intelligence revealed that the German government’s Bitcoins went up by a staggering 9000X in one day only.
Presently, the Germany government owns only $171 of Bitcoin to its disposal. This small sum is the result of donations coming directly from the Bitcoin society.
Finally, the total balance in the monitored by them Bitcoin address was only $1.87 on Sunday.
This news elicited funny reactions in the cryptocurrency fraternity. This one laughed and said, Slow but steady accumulation, the other only said that headline almost gave me a heart attack.
According to a famous news website, Germany’s government sold Bitcoin and depleted its stash on Friday following a selling campaign that started in the first week of June.
This year, in mid-May, 50,000 Bitcoins were deemed property of the state of Saxony in eastern Germany when the authorities seized the Bitcoins from a widely visited piracy site.
This placed Germany among the leading ranks as far as the holding of the market’s leading cryptocurrency by its government is concerned.
However, instead of holding these Bitcoins itself, the government started selling those to exchanges and this put a lot of selling pressure on the Bitcoins.
A number of individuals who support Bitcoin and have no links to Blank and the AfD called the government not to sell its holdings to the suggestion of independent Bundestag MP Joana Cotar.
However, Saxony was forced to liquidate the Bitcoins as selling of seized properties is a norm in Germany.
Since the selling frenzy has ended, certain crypto enthusiasts are provoking the government to accept the currency by sending some statistics to the prescribed address.
On the other hand, the price of Bitcoin was up recently crossing $60,000.
