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Germany has been on a Bitcoin selling spree, but they just unexpectedly reverted 1,915 Bitcoins worth $111.5 million back into their reserve.

Here’s what we got for you today:

• 💰Germany's Bitcoin moves: What you need to know!

• 🤯 Justin Sun's $66 Million Loss in ETH!

• 🧱 Around The Block: XRP stages a comeback: aims to reclaim $0.50 after a recent plunge.

💰Germany's Bitcoin moves: What you need to know!

Germany has been busy lately!

In less than a month, they've sold a staggering $390 million worth of bitcoin, most of which was dumped on the open market. This is very unusual, as most established entities would have done this via OTC.

Yet, despite the massive sell-off, Germany still holds a significant stash of 40,359 bitcoins, valued at approximately $2.33 billion in today's market.

Just imagine the impact this could have.

But here's the real kicker:

They moved 1,915 bitcoins worth $111.5 million back into their reserves.

That should be good news, right?… except it isn't.

The reversal has sparked more questions and skepticism.

In fact, Joana Cotar, an independent Member of Parliament, voiced her frustration, criticizing the lack of a clear strategy.

And you know what? She might have a point!

While Germany was busy selling off its bitcoin, Wall Street was taking advantage of the dip.

According to Cortar, the sell-off could be a result of Germany's massive budget shortfalls at the moment. She also thinks politicians are missing out on a golden opportunity due to their lack of understanding.

Here's the real concern:

If other countries like China and the UK, which also hold significant amounts of Bitcoin, follow Germany and the US in their selling spree, what would be the price of Bitcoin then?

The key takeaway is that there is a pressing need for a well-defined, cohesive, and forward-thinking strategy for managing digital assets.

You can read more about it here.

🤯 Justin Sun's $66 Million Loss in ETH!

A sudden crash last Friday caused Ethereum's price to drop by a whopping 10%, all the way down to $2,810!

Experts say the crash was triggered by increased selling pressure on Bitcoin due to Mt. Gox repayments and major sell-offs by the US and German governments.

And although Ethereum has partially bounced back, the price dip uncovered some intriguing details about Tron founder Justin Sun's crypto holdings.

Reports claim that he amassed 361,000 ETH (equivalent to $1.1 billion) over the past five months.

However, Friday’s downturn caused Sun’s alleged ETH investments to take a hit, resulting in a loss of a whopping $66 million!

But there’s a silver lining for us here:

Justin Sun's significant purchases suggest confidence in Ethereum's long-term potential despite recent price fluctuations. Don’t you think so?🤔

Oh, and did you know that he subtly offered to negotiate with the German government to purchase all BTC off-market to minimize the impact on the market?

However, whether the German government will accept this offer remains uncertain.

Click here for more details!

🧱 Around The Block:

• XRP Stages A Comeback: Aims to reclaim $0.50 after recent plunge

• Crypto hacking thefts doubled to US$1.4 billion.

• Bitcoin suddenly hurtling toward a $1.9 Trillion shock after a huge price crash.

• Polygon investors could flip the glacial pace of MATIC price recovery.

• Binance faces a $2.2 million penalty from India's financial watchdog for AML breaches.

• UK court freezes Craig Wright’s assets amid $1.9 Million legal dispute.

• Nigeria to develop Indigenous blockchain, "Nigerium"

• JPMorgan Chase, Bank of America, and 7 mega banks paying $46,000,000 over alleged conspiracy to rig trillion-dollar derivatives market.

That's all we've got for you today.

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In any case, see you tomorrow, or on Twitter, if you're there: @danielakpobare

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be NEW”