Analysis: Recently, it's not Germany that has been selling Bitcoin, but one of its states

The sale of Bitcoins worth millions of dollars is not by the country Germany, but by a small state in Germany called Saxony. In January this year, Saxony, Germany seized nearly 50,000 Bitcoins valued at about $3 billion and sold them according to convention. The state's criminal police department is responsible for disposing these assets and has currently sold half of them causing market fluctuations and price drops. Despite criticism, experts say that this action follows the legally prescribed asset disposal process.