Germany Completes Bitcoin Promote-Off After Weeks of Transfers

Germany seems to have offered all its bitcoin seized from the defunct piracy web site Movie2K, transferring the ultimate 3,846.05 BTC ($223.81 million) to Kraken on Friday.

What’s the importance: Germany’s sell-off is extensively considered one of many causes as to why Bitcoin couldn’t break previous $60,000.

The small print:

• Germany seized 50,000 bitcoins valued at over $2 billion in January.
  Current transfers included BTC despatched to a number of exchanges like Bitstamp, Coinbase, and Kraken.

Nonetheless: Not all lawmakers agreed with the sell-off, with a minimum of one German legislator expressing opposition.

What’s subsequent: Many are hopeful that with the sell-off over, the price uptrend would start.

This text is printed on BitPinas: Germany Empties Bitcoin Pockets

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