TechFlow news, May 20 — According to Cointelegraph, Arkham data shows that the German government sold its holdings of 49,858 bitcoins in summer 2024 at an average price of $57,900, totaling approximately $2.89 billion. Since the bitcoin price has risen over 80% after the sale, these bitcoins are now worth $5.24 billion, causing the German government to miss out on about $2.35 billion in potential gains.
This batch of bitcoins is believed to have come from the operator of the now-shutdown piracy movie website Movie2k. Miguel Morel, founder of Arkham Intelligence, said the German government's selling approach appeared hasty and failed to achieve optimal market impact or profit outcomes.
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