Saxony's Bitcoin sales: strategy or short circuit?
Saxony's Bitcoin sales: strategy or short circuit?
Bitcoin sales in Saxony: Effects on the cryptoma market
In the past few days, the Bitcoin course has recorded a drastic descent, which may be due to the state of Saxony. According to media reports, the Free State is currently selling a considerable amount of crypto currency.
In January, Saxon authorities were given access to an extensive Bitcoin wallet worth around 2.5 billion euros. This assets were allegedly transferred voluntarily by the former operator of an illegal film platform that is currently in custody.The Federal Criminal Police Office (BKA) currently carries out extensive sales of Bitcoins on behalf of Saxony. Hundreds of bitcoins (current value per coin: 53,000 euros) are reported every day.
member of the Bundestag expresses criticism of Bitcoin sales
The parliamentary member of the Bundestag Joana Cotar (51) has asked Saxony's government to hire sales immediately. Instead, she advocates keeping the crypto currency as a "strategic reserve currency" in order to secure itself against risks on the financial market.
Cotar criticized the campaign as "counterproductive" and in a letter to Saxony's Prime Minister Michael Kretschmer (49, CDU) asked to refrain from having a hasty sale of bitcoins in state possession. She emphasized that the sale at this time was unclear, especially in view of the recent crash.
expert assessments on the current situation on the cryptom market
experts attribute the recent decline in price to the problems of the crypto "Mt.Gox", which has to pay a large number of bitcoins to damaged creditors. There is a risk of oversupply on the market, which could continue to push the price.
Joana Cotar recommends that Saxony keep the crypto currency and develop a comprehensive Bitcoin strategy. Investors are also concerned about the current sale and describe it as "stupid" or "short -sighted". Some of the government even throw market manipulation.
origin of Saxony's Bitcoin assets and use of revenues
The State Criminal Police Office and the Attorney General Dresden were able to move a former pirated copier to move out 50,000 previously acquired bitcoins. These are worth around two and a half billion euros today.
It is the former operator of the illegal platform "Movie2k.to", which was delivered to Germany after his arrest in Spain. In January 2024, the bitcoins were transferred to the authorities wallet and are now apparently rejected to a large extent. The proceeds from the sale flow into the state treasury of Saxony, but so far no precise information has been given.
- Nag
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