#Cybro Germany explains why it sold 50,000 bitcoins

The 50,000 bitcoins that were in Germany's wallet had been confiscated from an old film and series piracy website at the beginning of the year. Therefore, sooner or later they would be liquidated by the government.

The case has not yet reached its end. However, authorities explained that the rush was related to Bitcoin's downside risk, treating the action as an “emergency sale.”

“In the context of an “emergency sale” pursuant to paragraph 111 of the Code of Criminal Procedure, the Dresden Public Prosecutor's Office decided to sell the bitcoins transferred by the accused on a short-term basis,” the German government wrote.#bitcoin $BTC