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#Register now for WCTC S6 and a shot at the $1,000 Live Draw!
🇩🇪 The German government has issued an official statement for the first time regarding the sale of 50,000 confiscated bitcoins. 💰
Previously, all sales were reported exclusively by third-party analysts based on wallet data. 🔍
👀 According to the statement, 90% of the coins were sold through over-the-counter transactions without directly affecting the market price. 📉
💵 The bitcoin sales were conducted under the so-called emergency sale as per the relevant article of the criminal code. The bitcoins were confiscated from the operators of the pirate site movie2k.
By law, if there is a risk of losing 10% or more of the confiscated asset's value, it must be sold even if the criminal proceedings are not completed. 🤔
The revenue from the bitcoin sale amounted to €2.64 billion. These funds will be added to the budget only after the final conclusion of the criminal proceedings.