TL; Fault DR
- German authorities destroy their confiscated bitcoins by selling them cheaply.
- The German auction traded more than $ 63,000 in bitcoin today.
Tax authorities in Germany have recently held a major auction at a Bitcoin store confiscated due to illegal activities. This huge offer attracted many enthusiasts looking to buy cryptography at a lower price.
According to official reports, the offers ranged from € 42,000 and opened in the early hours of Monday, October 25th. This massive sale of digital currencies represents one of the best opportunities for fans of investing with BTC.
Bitcoin auction process in Germany
One of the most valuable digital currencies in the decentralized market, Bitcoin has been one of the best investments in 2021. The cryptocurrency started the year with a price that did not exceed $ 35,000, but broke the standards over the months and reached a record high. $ 61,500 However, its value fell above $ 66,000 until a few days ago.
This cryptocurrency has caused a lot of problems due to some malicious companies and people who use it for fraud. These illegal actions include a German company that has stolen financial services from some customers. But national authorities arrested the criminals and confiscated the bitcoins they had stored in their wallets.
These bitcoin stocks were opened to German enthusiasts to buy them at a low price. The agency reportedly sold each BTC for between $ 49,000 and $ 50,000, which was a big deal compared to the BTC price today.
The massive sale of cryptocurrencies took place on a German auction platform. All proceeds from the sale of digital currency will be stored in North Rhine-Westphalia, a German federal state, officials said.
All seizures are auctioned off in digital currencies
According to the national order, German authorities must auction off all cryptocurrencies, including bitcoin. Other items such as helicopters, luxury cars, yachts and computers should also be sold.
Fans of cryptocurrencies are fascinated by these transparent policies in Western Europe. This low-cost crypto sale allowed multiple users to enjoy virtual business and its inactive revenue.
BTC is currently trading above $ 63,633 and its price has risen 6.41% after 24 hours. Atrium, which will be the number two cryptocurrency in the virtual market, trades at $ 245, up from a maximum of 5.84% in the past 24 hours, according to CoinMarketCap. This week looks promising for cryptocurrencies, which could reach their all-time high if acceptance continues in Germany and other European countries.