Germany Almost Done Selling Bitcoin, Holding Less Than 5K Tokens After Latest Moves
Summary
Saxony, Germany, is depleting its confiscated bitcoin reserves, selling over 10,000 BTC worth $600 million to exchanges and brokers. The state has sold around 35,000 BTC this week, leaving only 4,925 BTC worth $285 million. The selling spree may end soon, easing concerns about market supply. Bitcoin's recent price decline was linked to large potential sellers, including the U.S. government and Mt. Gox creditors. Despite fears, the impact of potential selling on bitcoin's price may have been overstated.
