Justin Sun: Germany lost the European Cup! It's because too many Bitcoins were sold

This site (120btC.coM): The 2024 European Football Championship (UEFA Euro 2024), also known as the "European Nations Cup", will be held in Germany from June 14th to July 14th. In today's top 8 match, Spain defeated the host Germany 2-1 in the playoff and advanced to the last four. Since this is the first time that Germany failed to advance in the top 8 match (all four previous times have advanced to the semi-finals), The players are very disappointed.

Brother Sun: Germany will lose because it sells too many BTC

In the face of Germany’s defeat, Tron founder Justin Sun said sarcastically on X this morning: The German team lost the game in this European Championship. The reason, probably because they sold too many Bitcoins.

Since June 19, the German government has continued to transfer large amounts of Bitcoin to exchanges, bringing huge selling pressure to the market. On July 4, Sun Yuchen announced boldly on X: "I am willing to negotiate with the German government to purchase all BTC off-site to minimize the impact on the market."

I can only say that Brother Sun is really good at catching hot topics.

Germany has transferred nearly $600 million worth of BTC

The German government confiscated nearly 50,000 Bitcoins from the pirated movie website Movie2k in mid-January this year, becoming the largest cryptocurrency seizure case in German history. According to statistics from on-chain analyst Ember, a total of 9,332.3 BTC have been transferred from the German government address since June 19 (in nine transfers), worth approximately US$572 million, and the average transfer price is US$61,306.

Currently Arkham data shows that the German government still holds 40,526 Bitcoins, worth approximately US$2.29 billion. Whether it will continue to have an impact on Bitcoin deserves continued attention.

Entities that have recently transferred large amounts of BTC

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