12,000 Bitcoin in One Day: German Authorities Conduct Largest Sale Yet đ
In a single day, over half a billion dollars: The Federal Criminal Police Office (BKA) in Saxony has sold more Bitcoin than ever before, half of the "Saxon Treasure" is now gone.
The sale continued briskly at the BKA in Saxony: yesterday, on July 8th, a total of 12,000 Bitcoin were sold.
This information comes from Arkham Intelligence data.
The equivalent value: approximately $687 million.
This is the largest sale Saxony has made in one day.
It is assumed that the authorities are selling their BTC off-exchange, through so-called OTC desks.
Bitcoin fell by about two percent over the course of the day.
However, the cryptocurrency has since recovered, gaining almost four percent.
The BKA's coins originated from the alleged operators of the illegal streaming platform movie2k.to. The proceedings against a 40-year-old German and his 37-year-old accomplice from Poland are still ongoing.
Speaking to BTC-ECHO, the agency merely stated, "The proceeds from confiscated values flow according to Section 60 of the Criminal Execution Code to the respective state treasury where the competent court is located."
The BKA now has about 27,000 Bitcoin remaining. Originally, there were 50,000 Bitcoin. đđ
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