Skip to content

Here’s how much Bitcoin Germany has sold so far

Here's how much Bitcoin Germany has sold so far

Bitcoin (BTC) recently crashed to a four-month low, losing more than 25% from its all-time high of $73,135 reached on March 13, erasing billions and causing a broader cryptocurrency market downturn.

BTC is currently trading at $55,291 after erasing 3.06% over the past 24 hours, adding to the losses of 10.11% in the previous seven days.

BTC 6-month price chart. Source: Finbold
BTC 6-month price chart. Source: Finbold

Since its March 13 high of $1.4 trillion, the flagship digital asset has lost $350 billion from its market cap, as per the latest data retrieved by Finbold from CoinMarketCap.

This downward trend has been bolstered by the large volume of sales and the recent reimbursement of bankrupt cryptocurrency exchange Mt. Gox, which has apparently begun repaying investors almost $9 billion in Bitcoin owed to its creditors.

In reality, so far only $84.9 million has been sent to Bitbank for repayment, while the rest of the creditors might need to wait up to three months for reimbursement.

In addition, the German government, one of the world’s largest state holders of the maiden crypto, has seemingly embarked on a BTC-selling spree, further exacerbating selling pressure.

German government sold millions of BTC

The German government acquired BTC after the Bundeskriminalamt (BKA) seized nearly 50,000 Bitcoins, worth approximately $10 million at the time, linked to the former operator of the film piracy website Movie2K in 2013.

The selling spree started on June 26, when the German government sent 750 BTC worth $46.3 million to cryptocurrency exchanges Coinbase, Bitsamp, and Kraken, according to cryptocurrency trade tracker Lookonchain.

On July 1, the German government decided to offload an additional 1,500 BTC worth $94.7 million. This transaction was followed by the further sale of 832.7 BTC on July 2, which was worth $52 million.

Subsequently, on July 4, 3,000 Bitcoins were sold for a $174 million profit.

As of the time of writing, the latest sale was conducted on July 5, when 543 Bitcoins were sold for a $30 million profit.

Most recent sale of 547 BTC by the German Government. Source: Arkham Intelligence
Most recent sale of 547 BTC by the German Government. Source: Arkham Intelligence

Over the past ten days, 6,625 Bitcoins have been sold for a total profit of $397 million, leaving the German government with 39,816 Bitcoins in its reserves worth $2.2 billion.

Finbold first warned that the German government could be offloading their Bitcoin seized holdings on June 21, stating that it had moved over 1,700 BTC worth $108 million at the time.

German MP complains about BTC sales

Bundestag member Joana Cotar criticized the German government’s recent decision to sell a substantial portion of its Bitcoin holdings. 

In a series of tweets, Cotar contrasted this move with discussions in the U.S., where Bitcoin is considered a strategic reserve currency.

Addressing her concerns to Saxony’s Minister, President Michael Kretschmer, Finance Minister Christian Lindner, and Chancellor Olaf Scholz, Cotar urged them to rethink the strategy. 

Cotar emphasized the decision’s counterproductive nature and invited the officials to attend an upcoming lecture event titled “Bitcoin Strategies for Nation States” on October 17. 

Is Germany dumping its Bitcoin?

The narrative among the cryptocurrency community suggesting that the German government’s recent sale of Bitcoin caused the market crash may be inaccurate. 

Notably, a significant portion of the coins sent to exchanges yesterday were subsequently returned to the same wallets from those exchanges, ‘and the time for selling isn’t right, so this likely isn’t them,’ according to developer Samson Mow.

This could mean that the German government revised its previous decision to sell Bitcoin at the current time, and market conditions.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

Read Next:

Weekly Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Disclaimer: The information on this website is for general informational and educational purposes only and does not constitute financial, legal, tax, or investment advice. This site does not make any financial promotions, and all content is strictly informational. By using this site, you agree to our full disclaimer and terms of use. For more information, please read our complete Global Disclaimer.