Germany got their Bitcoins through seizures, so it makes sense to sell them since they weren’t acquired with the intention of becoming a reserve.
I’d say that’s the right move for now. But if they ever realize the need for Bitcoin as a reserve in the future, they can always buy it again.
Apart from what way they get Bitcoin but this should be a good moment to keep it holding back.
Just imagine if the process to get bitcoin from confiscation they can use for the process of becoming a backup then now they have received a very large profit.
Maybe a different perspective between Germany and El Salvador and that is the reason they don't see opportunities in Bitcoin.
They may not hold a massive amount of Bitcoin, but their consistent accumulation shows how much they trust it. Even during Bitcoin’s all-time highs, they didn’t plan to sell, proving their confidence in Bitcoin through both bear and bull markets. This makes them a great example for other countries considering Bitcoin as a reserve, or even as a currency.
El Salvador did an interesting thing that might never be thought to be done by most countries and they proved that the move was not wrong in an effort to do something based on careful consideration.
They still hold Bitcoin far at the time of their highest value and they are true holders who trust Bitcoin as a long -term investment as a stages of strategic reserves.
There are many countries that may be considering these steps but it takes time to realize as El Salvador does and may take time because there will be challenges they need to do.