Historical mistake: England sold gold in 1999 and Germany sold BTC in 2024?

[KryptoBull]

In recent days we have been talking about the event of the German government dumping 50K BTC and having a negative impact on the crypto market ^[1]. This event is reminiscent of a similar event that occurred in England in 1999.

German government selling its BTC is similar to the UK selling its gold reserves in 1999. The German government is currently one of the largest holders of BTC among countries and they are selling their BTC at a low price < 60K USD, which could be a bad financial decision. Some analysts believe this could be worse than the UK selling its gold ^[2].

With the launch of spot BTC ETFs, BTC has entered a new era of acceptance and accessibility for traditional investors to welcome huge inflows. I believe that BTC price will continue to increase in 2024 and 2025 and will not disappoint us. If this happens, the German government's BTC sell-off could turn into a huge mistake as they give up their position in the crypto market. Whatever the reason for the sell-off, government officials may still consider delaying or putting these 50K BTC into the national budget instead of handing them over to Wall Street through OTC.

I would like to know your opinion on this issue:

• Do you think the German government's BTC sell-off was a historical mistake?
• If you could help the German government make a decision, would you like to turn this 50K BTC into a national reserve?
• Do you continue to believe in BTC price growth opportunities in the near future to become an extremely valuable asset in the economy?

References:
[1] Germany Almost Done Selling Bitcoin, Holding Less Than 5K Tokens After Latest Moves
[2] German Government Bitcoin Selling Akin To UK Selling Its Gold
Note:

• My opinion has been presented in a topic, on BitcoinTalk forum.
• This topic on AltcoinsTalks forum has included a minor change in the way my opinion is presented.
• This statement is to avoid accusations of plagiarism.

[pakhitheboss]

These are seized Bitcoin from illegal activities. That why they are selling them in the market. They now only have less 4000 Bitcoin which if sold will not affect the Bitcoin price. By the way when was selling of Bitcoin considered bad? It is just the market over reacted sharply to the sell and that will we saw the price of Bitcoin going below $53K.

[ABCbits]

Your title contain wrong year, i think it should be 1999 rather than 2019. Anyway i agree it's mistake, especially when other news report that those Bitcoin confiscated from pirate activity on back 2013. They could've recover their operational and other legal cost by just selling a fraction of the seized Bitcoin.

[MrSpasybo]

I would like to know your opinion on this issue:

• Do you think the German government's BTC sell-off was a historical mistake?
• If you could help the German government make a decision, would you like to turn this 50K BTC into a national reserve?
• Do you continue to believe in BTC price growth opportunities in the near future to become an extremely valuable asset in the economy?

1. Selling BTC right now may not be wise, but if it is a regulation, they must also comply before new laws are enacted. I wouldn't be surprised if Germany will have new laws after this event and officially buy BTC as a national reserve asset.

2. If possible, I would advocate holding to ATH and pumping a lot of positive news to boost BTC price and the bullrun in the entire market.

3. I remain optimistic about the long-term future of the market and at least the growth of BTC price in this cycle to the $150K-170K price zone.

[JunaidAzizi]

England started selling their gold reserves in 1999, which was a mistake they made 25 years ago for the repayment of debt. Now, Germany has started selling their BTC. You are saying that this is also a mistake, similar to England's situation. However, we don't know the actual reason for this. How can you say it is also a mistake? Maybe selling BTC will be a mistake for the BTC market, but what if it brings some positivity and resources to the German government? There must be some genuine reasons as to why they are selling that much BTC at a low price.

[kulkhan]

These are seized Bitcoin from illegal activities. That why they are selling them in the market. They now only have less 4000 Bitcoin which if sold will not affect the Bitcoin price. By the way when was selling of Bitcoin considered bad? It is just the market over reacted sharply to the sell and that will we saw the price of Bitcoin going below $53K.

However i think it is great mistake for Germany. Now time for buy Bitcoin. We know some days ago Bitcoin price touched new ATH which was $73k and now Bitcoin price is near about $56k. I thik if Germany hold Bitcoin it was better for them. But we know they sold Bitcoin. I think it has been great mistake for Germany today or tomorrow they will realize it.

[KryptoBull]

However i think it is great mistake for Germany. Now time for buy Bitcoin. We know some days ago Bitcoin price touched new ATH which was $73k and now Bitcoin price is near about $56k. I thik if Germany hold Bitcoin it was better for them. But we know they sold Bitcoin. I think it has been great mistake for Germany today or tomorrow they will realize it.

Several German lawmakers have spoken out and may succeed in persuading the German government to accumulate BTC as a national reserve asset for the future. The mistakes in British history could be the best evidence for the German government to seriously consider this proposal.

From a positive perspective, we have seen the BTC price recover above 62K USD. Perhaps the investor anxiety related to the German government's BTC sell-off is over and everyone is looking towards a new ATH for BTC.

[TomPluz]

I would like to know your opinion on this issue:

• Do you think the German government's BTC sell-off was a historical mistake?
• If you could help the German government make a decision, would you like to turn this 50K BTC into a national reserve?
• Do you continue to believe in BTC price growth opportunities in the near future to become an extremely valuable asset in the economy?

1. Yes, if one is looking at the price factor, certainly years from now some in the Saxony, Germany government will look back and will be shaking their heads once BTC will be reaching astronomical heights in the market. Now, with that said, I don't think that governments have the business of being influencers in the crypto market hence selling their hoards was the right thing to do. In my view, it is good that they sold their Bitcoin at this stage rather than later not unless they planned of making BTC as one of their reserves just like what El Salvador is doing.

2. No, I won't be advising that government to make Bitcoin as one of their reserves as they might not be ready for it...unlike El Salvador that went all-in for Bitcoin. I would be telling them to just move on but make sure that they are not killing the cryptocurrency industry as they made good money out of it.

3. Yes, I am sure that Bitcoin will continue to be growing even one day getting near the $1 million mark though, of course, it can be a question of WHEN and not of IF. The problem for many people is the waiting...as they don't have the long-term vision and can easily be swayed by current market developments.

[KryptoBull]

1. Yes, if one is looking at the price factor, certainly years from now some in the Saxony, Germany government will look back and will be shaking their heads once BTC will be reaching astronomical heights in the market. Now, with that said, I don't think that governments have the business of being influencers in the crypto market hence selling their hoards was the right thing to do. In my view, it is good that they sold their Bitcoin at this stage rather than later not unless they planned of making BTC as one of their reserves just like what El Salvador is doing.

2. No, I won't be advising that government to make Bitcoin as one of their reserves as they might not be ready for it...unlike El Salvador that went all-in for Bitcoin. I would be telling them to just move on but make sure that they are not killing the cryptocurrency industry as they made good money out of it.

3. Yes, I am sure that Bitcoin will continue to be growing even one day getting near the $1 million mark though, of course, it can be a question of WHEN and not of IF. The problem for many people is the waiting...as they don't have the long-term vision and can easily be swayed by current market developments.

I believe the German government may consider reserving BTC because MiCA has been issued for the EU, but it cannot easily legalize BTC transactions in the economy like El Salvador. Germany is an economy, the German government needs a long-term process to accept BTC and we also need to wait for positive news from other major economies.

Perhaps we will only see strong acceptance and decisive action from governments when BTC reaches $1M in the future. I hope I can witness that crazy thing and have enough BTC in my account to smile with satisfaction for always believing in BTC.

[ZAINmalik75]

I would like to know your opinion on this issue:

• Do you think the German government's BTC sell-off was a historical mistake?
• If you could help the German government make a decision, would you like to turn this 50K BTC into a national reserve?
• Do you continue to believe in BTC price growth opportunities in the near future to become an extremely valuable asset in the economy?

I don't know what mistake did England made, and I am confused by the dates. You wrote 2019 in the title and 1999 in the post. Is that a mistake? In my opinion, selling BTC at the current rate was not a mistake by Germany and I have read on several news that they had no other option too. They have to sell them because these funds were seized funds and I don't know the rules but an article published that they have to sell them.

Keeping those funds in the form of BTC as national reserve would be a good choice because it could diversify there investment but it is possible that they are buying Gold with the funds they made and any other profitable asset. Its good thing that they chose to sell there BTC on exchanges where public can buy it because this way indipendent indivuals will have more BTC and centralzied authoities will ahve lesser.

[Hamza2424]

These are seized Bitcoin from illegal activities. That why they are selling them in the market. They now only have less 4000 Bitcoin which if sold will not affect the Bitcoin price. By the way when was selling of Bitcoin considered bad? It is just the market over reacted sharply to the sell and that will we saw the price of Bitcoin going below $53K.

TBH, I didn't know that they sold the seized Bitcoin, haha well there's a point to consider that even a buying of 1k+ BTC is reported and the huge number of Bitcoins accumulated by Germany wasn't reported.

Also selling BTC was never wrong and won't be wrong ever in the future as well, TBH this was unexpected that's why people reacted like this and for now it doesn't matter because we are back on track.

[KryptoBull]

I don't know what mistake did England made, and I am confused by the dates. You wrote 2019 in the title and 1999 in the post. Is that a mistake? In my opinion, selling BTC at the current rate was not a mistake by Germany and I have read on several news that they had no other option too. They have to sell them because these funds were seized funds and I don't know the rules but an article published that they have to sell them.

Keeping those funds in the form of BTC as national reserve would be a good choice because it could diversify there investment but it is possible that they are buying Gold with the funds they made and any other profitable asset. Its good thing that they chose to sell there BTC on exchanges where public can buy it because this way indipendent indivuals will have more BTC and centralzied authoities will ahve lesser.

Thank you for the reminder, I have corrected the title accordingly. The UK sold gold in 1999, not 2019, this was a silly mistake when I created this topic!

For whatever reason, the German government sold most of the BTC they had at a low price compared to the current price. They missed the opportunity to hold a globally valuable asset, in case they want to own 50K BTC at this time, they will have difficulty buying it back at a good price. This shows the slow reaction of the German government and it seems that they are not really ready to embrace the crypto wave even though MiCA has been issued.

I don't really care how the German government sold off BTC, they have moved BTC multiple times to get the best possible price. I'm just glad that the market quickly absorbed the 50K BTC without causing the BTC price to fall too deeply, which helps us estimate the demand for BTC in the current market.

[Yamane_Keto]

Germany's sale of Bitcoin has become more widely discussed than it should have been. I would not be surprised if some conspiracy theories or unrelated analyzes emerged, but this is not the first time this has happened.

[bitterguy28]

In recent days we have been talking about the event of the German government dumping 50K BTC and having a negative impact on the crypto market ^[1]. This event is reminiscent of a similar event that occurred in England in 1999.

but the event only brings temporary dumping to the market right? look at the market now increasing as if this never happened.

each government has their right to do whatever they believe is best for their interest and for their people so maybe its Germans plan tp what they need in the amount to be getting from the selling.

German government selling its BTC is similar to the UK selling its gold reserves in 1999. The German government is currently one of the largest holders of BTC among countries and they are selling their BTC at a low price < 60K USD, which could be a bad financial decision. Some analysts believe this could be worse than the UK selling its gold ^[2].

how come that this is a low price selling when they have accumulated those bitcoin in much lower price?

is there any worst reaction after a week of selling?

[Zed0X]

~
There must be some genuine reasons as to why they are selling that much BTC at a low price.

It is stated that they are selling because it's part of their law to disposed/liquidate seized assets at a certain time (it could be crypto or any other properties). It just happened that the price was around that when time was up to offload.