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ROLLUP: Stocks vs. Crypto | EthCC Recap | Trump BTC Conf Speaker | ETH Documentary Release
Bankless
Market Recap: Bitcoin Drawdown and Germany's Bitcoin Sales
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Bitcoin experienced its first 25% drawdown after a streak of 427 days, surpassing the 2012 record by 63 days. Despite the correction, it is seen as a natural market adjustment. The German government has been blamed for selling large amounts of Bitcoin, with 362 million sold recently and still holding 1.3 billion to potentially sell. A German MP criticized the sales, suggesting that Bitcoin should be held as a strategic reserve currency rather than sold, akin to the US considering holding seized Bitcoin. The MP recommended developing a comprehensive Bitcoin strategy instead of selling.
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