$BTC

For several weeks, the German government has been actively selling hundreds of millions of dollars worth of bitcoins, which has become one of the reasons for the fall in the value of this cryptocurrency. According to CNBC, the sales began with a wallet belonging to the Federal Criminal Police Office (BKA).

First, BKA sold 900 bitcoins worth about $52 million, seized during the liquidation of a pirate website. Last week, another 3,000 bitcoins worth $172 million were sold, and on Monday, German police sold 2,739 bitcoins and other cryptocurrency worth $155 million. These assets were sold through the exchanges Coinbase, Bitstamp and Kraken.

Representatives of the German government do not comment on the situation, however, against the backdrop of these sales, the Bitcoin rate fell sharply, falling below $55 thousand per coin. This was the lowest level since February 2024 and led to a loss of over $170 billion in the total market capitalization of the cryptocurrency market in a day, causing concern among investors.