After the panic sale of his Bitcoin holdings, Germany's Federal Finance Minister, Christian Lindner, has hit a wall in his attempt to shore up budget deficits. Speculation arose that he might turn to the country's vast gold reserves, but the Bundesbank firmly rejected the idea. Bundesbank President Joachim Nagel stated unequivocally that they will not sell gold, emphasizing its symbolic value and importance as a trust anchor for the public.
With over 3,350 tons, Germany holds the second-largest gold reserves globally, second only to the USA. The Bundesbank's stance remains clear: "We sell nothing," said Nagel, reinforcing the commitment to holding the gold long-term due to its steady value appreciation. Additionally, hopes for financial gains from the Bundesbank are dashed as it reported a €21 billion loss last year.
The disorderly, panic-like actions of German fiscal policy indicate that the eurozone as a whole is heading for a serious sovereign debt crisis. High volatility is now to be expected!
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How do you know that the BTC was ‘panic sold’?
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firstly because they went straight to the market with it and secondly because the attempt to persuade the Bundesbank to sell gold is, in my opinion, very treacherous and points to problems. In addition, a new financial hole of 40 billion euros was discovered in the federal budget just last week
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45 sats \ 1 reply \ @OT 10 Jul
How long did they hold it after the confiscation? Someone posted that they also bought some?
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I don't know when they were confiscated, but I can't imagine that Germany would never have bought Bitcoin as a state
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