Quote from: davis196 on Today at 05:45:59 AM

Quote from: btc78 on July 09, 2024, 06:12:02 AM

Mt. Gox has started repayments in Bitcoin and Bitcoin Cash. It is not specified just exactly how much have been distributed and how much there is left however the decline of price of Bitcoin these previous days can be attributed back to this.

Additionally, Germany have also sold a huge chunk of their seized bitcoin in an operation against a piracy site last active almost over a decade ago. The exact reason why is unclear however many suspects that Germany is trying to liquidate the Bitcoins they hold to stabilize their economy. Despite a huge sell out, Germany still holds almost 30,000 bitcoins.

These two events contribute to the decline of bitcoin's price. Frantic investors have all sold their bitcoin in fear but if you know better, you know this is the right time to buy and accumulate as much bitcoin as you can.

AFAIK, Germany sold seized Bitcoins that are worth around 2 billion dollars. Do you really think that the Germans will stabilize their economy with 2 billion dollars? Grin

Many countries around the world have lots of seized BTC to sell and this will add more selling pressure to the BTC market, but that's OK. The Mt.Gox repayments are a good news for all the Mt.Gox investors, who kept waiting for years to get their BTC back.
The Bitcoin market can survive the price drop, that was caused by such events. There's nothing to worry about and the people, who are spreading FUD and "doom and gloom" predictions need to STFU.

The German economy is considered the largest economy in Europe and the 4th largest economy in the world with a total GDP of 4,000 billion USD, only behind the US, China and Japan (2022 data). So it would be naive to think that the German economy needs the help of those bitcoins. We cannot know exactly why they are selling bitcoin at this time, but it is certainly not because they want to save their economy with that small amount of money Grin

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The return of Mt.gox or the government selling bitcoin are all good news if we ignore the short-term impact. Even for those who understand how bitcoin works, this is another great opportunity for them to buy bitcoin at a discount rather than panic selling.

https://www.worldometers.info/gdp/germany-gdp/