German authorities complete seized-Bitcoin liquidation
The Saxony-linked government wallets finish disposing of the roughly 50,000 BTC seized in the Movie2k case.
On July 12, 2024, German authorities complete seized-Bitcoin liquidation. The Saxony-linked government wallets finish disposing of the roughly 50,000 BTC seized in the Movie2k case.
Saxony later confirmed that approximately 49,858 BTC had been sold between June 19 and July 12 for about €2.64 billion. The completion removed a major known government-sale overhang.
The episode also showed how government-controlled Bitcoin obtained through criminal proceedings could become a material market-supply narrative when sold at scale.