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With the sell-off thus far, Germany now boasts of a total of 43,859 BTC in its wallets, a total of which comes in at a value of $2.74 billion. This Bitcoin holding that the government has started selling off comes with no risk, as it was confiscated from crypto crime rings. The move by the German authorities mirrors that of the United States government. Over the past week, the government has about $240 million in cryptocurrencies to Coinbase exchange. With the movement of funds to exchanges denoting sell-offs, the actions of these governments have not helped market stability in recent times.If these sell-offs persist, it might impact further the market sentiment surrounding Bitcoin.
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