12,000 Bitcoin in one day: German authorities with biggest sale yet

One day, more than half a billion US dollars: the BKA sells that much Bitcoin like never before. Half of stock is now sold.

Sales at the 'Bundeskriminalamt' in Saxony continue merrily: yesterday, July 8, they sold a total of 12,000 Bitcoin. This appears from data from Arkham Intelligence. The counter value: about $687 million.

It is the largest sale Saxony has made so far in a single day. Authorities are believed to be selling their BTC off-exchange, through so-called OTC desks.

Bitcoin fell about two percent during the day. Meanwhile, however, the cryptocurrency was able to recover and rose nearly four percent. The BKA's coins came from the alleged operators of the illegal streaming platform movie2k.to. The court case against a 40-year-old German and his 37-year-old accomplice from Poland is ongoing.

Opposite the German BTC-ECHO the authority indicated only that "the proceeds of the secured values flow to the respective state treasury according to § 60 Strafvollstreckungsordnung, where the competent court is located."

The BKA now has about 27,000 Bitcoin left. Originally there were 50,000 Bitcoin.