I recently sent a tweet to the German Bitcoin community and government from Michael Saylor, co-founder of MicroStrategy and a well-known backer of Bitcoin. He was reaching out to people in a quite distinct way now. Saylor, who is known for being a big supporter of Bitcoin, talked to them this week in German for the first time. He emphasized the phrase “Du verkaufst deine Bitcoin nicht,” which translates to “do not sell your Bitcoin.”
Saylor had similarly rallied the Bitcoin community earlier this year, when the market was going through a significant sell-off. Recent news from @lookonchain analytics showed that the German government has sold 50,179 BTC worth about $3.3 billion in the last 24 days.
German Bitcoin Sales Prompt Strategy
There was a full breakdown that showed more than 10,000 BTC, or $500 million USD, have been sent to Bitstamp and Coinbase in just the last 24 hours. The government got back about 500 Bitcoins, which were worth $28.6 million and were then sold. On-chain data shows that the German government does not have any Bitcoin at the moment. All of that Bitcoin was taken earlier this year from the Movie2k pirate site.
Samuel Mow, CEO of Jan3 and a well-known figure in the Bitcoin community, spoke out about the end of the German government’s Bitcoin sales. He said that they had to get rid of the 50,000 BTC that they took from Movie2k. Mow tagged @BTCimBundestag and German MP Joana Cotar on X. He suggested that they work together to make a clear plan for Germany to get back at least 50,000 BTC as part of a strong national plan to accept Bitcoin that will be talked about in October.
A few days ago, Joana Cotar asked the German government through X to stop selling Bitcoin and instead think about keeping it as a strategic backup currency. The most recent price for Bitcoin on the Bitstamp market is $58,134.
