German Authorities Confirm Role in Massive 50,000 Bitcoin Liquidation

The German government has confirmed its involvement in selling 49,858 bitcoins linked to the movie2k case. According to a press release, this “emergency sale” was conducted under Section 111p of the Code of Criminal Procedure. 

Bankhaus Scheich Wertpapierspezialist AG managed the sale, distributing the bitcoins in small tranches over three and a half weeks to minimize market impact. Authorities described the event as “unprecedented” and ensured that fair market prices were achieved.

Clever Robot News Desk 19th July 2024

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