In a significant development for the cryptocurrency market, the German government transferred another 2,375 Bitcoin—worth approximately $138 million—to major exchanges on Thursday. This move marks another phase in its ongoing liquidation of a massive Bitcoin reserve seized over a decade ago. With only around 13,100 BTC remaining, valued at roughly $765 million, Germany’s state-led Bitcoin sales are nearing their conclusion.
The Origins of Germany’s Bitcoin Holdings
Germany’s Bitcoin journey began in 2013 when the Federal Criminal Police Office (BKA) confiscated nearly 50,000 BTC from the now-defunct piracy website Movie2K. At current market prices, that original stash would be worth over $2 billion. The seizure placed Germany among the largest non-corporate holders of Bitcoin globally.
For years, these coins remained dormant in cold storage. However, starting in mid-June 2025, the government initiated a systematic sale of its holdings through over-the-counter (OTC) desks and direct transfers to major exchanges such as Coinbase, Kraken, and Bitstamp.
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Accelerated Liquidation and Market Impact
Over the past month alone, Germany has offloaded more than 25,000 Bitcoin, generating approximately $1.5 billion in proceeds. On-chain analytics from Arkham Intelligence confirm that after the latest transfer, the country’s remaining balance stands at just 13,100 BTC.
This prolonged selling pressure contributed to a dip in Bitcoin’s price below $55,000 in July 2025. The consistent influx of supply into the market created short-term bearish sentiment, particularly during periods of high-volume transfers.
However, analysts now suggest that the end is in sight. With less than $1 billion worth of Bitcoin left to sell, the downward pressure is expected to ease significantly. Given that daily Bitcoin trading volume exceeds $30 billion globally, the remaining German supply represents a relatively minor fraction—unlikely to disrupt broader market dynamics once sales conclude.
Timeline for Completion: Could Sales End by September?
If the current pace of liquidation continues, experts estimate that Germany could fully deplete its Bitcoin reserves by September 2025. At that point, the final batches will likely be auctioned or quietly sold through private deals.
The conclusion of these sales could act as a catalyst for renewed bullish momentum. Historically, large-scale sell-offs by governments or institutions have weighed on prices—but their cessation often precedes price recovery.
“Markets tend to price in known sellers,” said one blockchain analyst. “Once it’s clear there’s no more supply coming from Germany, investor confidence may rebound.”
Internal Criticism and Policy Debate
Not everyone within Germany supports the liquidation strategy. Several members of parliament, particularly those aligned with pro-digital asset policies, have voiced opposition. They argue that holding onto Bitcoin—a scarce, deflationary digital asset—could yield greater long-term value than converting it into euros.
Critics point out that selling now locks in short-term gains but forfeits potential future appreciation. As global adoption grows and institutional interest strengthens, retaining even a portion of the stash might have served national financial interests better.
Despite internal debate, the sales reflect a clear government decision: to monetize seized assets promptly rather than speculate on future valuations.
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Why This Matters for Investors
For investors, the winding down of Germany’s Bitcoin sales represents more than just a supply-side event—it’s a psychological milestone.
Key implications include:
- Reduced selling pressure: As one of the most watched state-held reserves nears depletion, uncertainty diminishes.
- Market sentiment shift: The end of consistent sell-offs may encourage accumulation behavior among institutional and retail investors.
- Historical precedent: Similar events—such as when Mt. Gox repayments concluded or when Silk Road assets were fully liquidated—have historically preceded price rallies.
Moreover, the transparency of these transactions via public blockchains allows real-time tracking, giving traders an edge in anticipating market moves.
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Frequently Asked Questions (FAQ)
Q: How much Bitcoin does Germany have left to sell?
A: As of mid-July 2025, Germany holds approximately 13,100 BTC, valued at around $765 million.
Q: When will Germany finish selling its Bitcoin?
A: If sales continue at the current rate, Germany could complete its liquidation by September 2025.
Q: Did Germany profit from selling Bitcoin?
A: Yes—the government has already cashed out over $1.5 billion from selling more than 25,000 BTC.
Q: Why is Germany selling its seized Bitcoin?
A: The government is monetizing assets seized from criminal activity to generate revenue rather than hold speculative investments.
Q: Will Bitcoin’s price rise after Germany stops selling?
A: Many analysts believe reduced supply pressure could support bullish momentum, though other macro factors also play a role.
Q: Where did Germany get its Bitcoin?
A: It was seized in 2013 from Movie2K, a piracy website shut down by German authorities.
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Final Outlook: A Turning Point for Bitcoin?
As Germany approaches the final leg of its Bitcoin liquidation, the market stands at a potential inflection point. The removal of a major known seller reduces uncertainty and may pave the way for stronger price performance in late 2025.
While short-term volatility remains inevitable due to broader economic conditions, regulatory news, and macro trends, the end of this chapter underscores a maturing cryptocurrency ecosystem—one where transparent asset movements are anticipated, analyzed, and absorbed efficiently.
For now, all eyes remain on the remaining 13,100 BTC. Once they’re gone, a new era may begin—not just for Germany’s fiscal strategy, but for Bitcoin’s next price cycle.