German lawmakers call on the government to stop selling Bitcoin, saying the move could affect the stability of the crypto market
Odaily2024/07/05 00:51
By:Odaily
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!
A welcome pack worth 6200 USDT for new users! Sign up now!
Odaily News German MP Joana Cotar strongly criticized the governments move to sell large amounts of
Bitcoin. On-chain data shows that the German government recently transferred more than $195 million worth of Bitcoin to various
crypto exchanges, including Coinbase, Kraken and Bitstamp, a move that exacerbated market volatility. Critics believe that such a large-scale government sell-off could have a long-term negative impact on the stability of the
crypto market. These Bitcoins originated from an investigation into the illegal website Movie2k.to, when approximately 50,000 Bitcoins were seized. Cotar wrote on X that the German government should reconsider this strategy and discuss with the United States the use of Bitcoin as a strategic reserve currency in comparison. She expressed her concerns to Saxony Governor, President Michael Kretschmer, Finance Minister Christian Lindner and Chancellor Olaf Scholz, urging them to reconsider this strategy and invite officials to attend the National Bitcoin Strategy lecture on October 17 to discuss how to use Bitcoin to enhance the national economy. (CryptoSlate)
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!
You may also like
Bitget to list Pons (PONS)
Bitget Announcement•2026/09/07 11:00
Bitget US Stocks Gold-tier Fans Challenge | KCGI Special: Share the $3,000 Prize Pool!
Bitget Announcement•2026/09/07 07:51
Futures Martingale custodial bots will be discontinued on October 12, 2026
Bitget Announcement•2026/09/07 02:58
CandyBomb x DGAI: Trade to share 60,000 USDT
Bitget Announcement•2026/09/03 13:00
Crypto prices
MoreBitcoin
BTC
$79,240.01
-0.87%
Ethereum
ETH
$2,494.15
-0.64%
Tether USDt
USDT
$0.9999
-0.01%
BNB
BNB
$739.68
-1.68%
XRP
XRP
$1.4
-1.79%
USDC
USDC
$1.0000
+0.01%
Solana
SOL
$104.06
-1.97%
TRON
TRX
$0.3347
-0.47%
Hyperliquid
HYPE
$85.35
-3.14%
Zcash
ZEC
$1,156.95
-5.70%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now