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Germany dumps Bitcoin as price slips

Germany dumps Bitcoin as price slips

$325 million in BTC seized over illegal activity has been sold off in 48 hours.

Ryan Ozawa
June 21, 2024

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📝 What you need to know

The price of Bitcoin has continued to fall at the end of a bumpy week, trading at $63,554 as of writing. Adding to the downward pressure is a sell-off by the German government, unloading BTC seized by law enforcement from illicit activities. Amid increased volatility, an overall decline has persisted, leaving the top cryptocurrency down nearly 10% over two weeks.

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💬 Quote of the Day

“Having seen a slippage in the price of BTC, the German government is releasing significant tranches of BTC and has taken a view that the price of BTC is to soften for a while to come.”

— Robert Quartly-Janeiro, Bitrue

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