CryptosRUs recently shared some insightful updates on the latest Bitcoin sell-off by the German government. CoinSpeech’s team has curated the most important aspects of his latest appearance. You can find CryptosRUs’s new video below.
Germany’s Massive Bitcoin Sell-Off: What’s Happening?
The talk of the town is Germany’s unexpected decision to sell a significant amount of Bitcoin. People are questioning why this is happening now and what initially led Germany to hold Bitcoin. According to CryptosRUs, the backstory traces back to a January report where Germany received 50,000 Bitcoin from an individual involved in illegal movie streaming.
“Germany seized the largest amount from illicit activity ever in history, and it was $2.17 billion,” explained CryptosRUs. Since January, the value of Bitcoin has increased immensely, prompting Germany to start selling their holdings.
Germany’s Selling Strategy Raises Eyebrows
The method by which Germany is selling its Bitcoin has been particularly contentious. CryptosRUs noted, “They seriously just divided it up, sent it to four exchanges, and sold it.” This approach has led to a noticeable price impact, which could have been minimized with more strategic selling techniques. Arkham Intelligence reported recent inward transactions in the German wallets, leading to speculation that they might revise their selling strategy.
Implications for the Market
Germany’s sell-off has brought noticeable fear and volatility to the market. “Bitcoin is oversold,” said CryptosRUs, adding that short-term recovery might be possible if Germany changes its selling methods. The broader implications for ETFs like Fidelity and Grayscale are also being monitored, with companies like BlackRock staying strong in their Bitcoin holdings.
A Bright Side: The Value of Holding
CryptosRUs emphasizes the long-term benefits of holding Bitcoin. “It shows that holding works because whatever they confiscated went up like 50% since January,” he stated. This reinforces the importance of patience for Bitcoin investors, with significant returns available even over a few months.
Other News and Personal Updates
In addition to discussing Germany’s Bitcoin, CryptosRUs shared personal news and upcoming appearances. He announced that he would be joining the new season of the show “Killer Whales” and has plans to fly to LA for filming.
He also shared his health journey, mentioning his adherence to a carnivore diet and rigorous workouts. “Even with my Germany example, they held since January… they made 50%,” he reiterated, drawing parallels between his personal discipline and the endurance required for successful Bitcoin investment.
CryptosRUs continues to offer his unique perspective on Bitcoin, and you can catch his latest video below: