German Government's Bitcoin Selling Spree

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John: Hey, have you heard about the recent news regarding the German government and Bitcoin?

Emily: No, what happened?

John: Well, since June 19th, the German government has started a major selling spree of its Bitcoin holdings.

Emily: Really? How much have they sold so far?

John: They’ve sold about 7,583 Bitcoins, which is valued at around $434.9 million.

Emily: Wow, that’s quite a lot. Where did they get all that Bitcoin from?

John: The Bitcoins were seized by the German Federal Criminal Police Office during an investigation of the Movie2k.to website, which was involved in movie piracy. It was the largest Bitcoin seizure by German law enforcement, amounting to about 50,000 Bitcoins.

Emily: Interesting. So, what impact has this had on the market?

John: On July 4th alone, the government transferred around $75 million worth of Bitcoin to various cryptocurrency exchanges like Coinbase, Kraken, and Bitstamp. This caused Bitcoin’s price to drop by about 10% since July 1st.

Emily: That must have stirred up some reactions.

John: Absolutely. The market reaction has been mixed. Some people think it’s a smart move to liquidate such a volatile asset. But others, like German politician and Bitcoin advocate Joana Cotar, have criticized it.

Emily: What does she say about it?

John: Cotar has urged the government to stop what she calls a “hasty” sell-off. She believes Bitcoin should be used as a strategic reserve currency to protect against traditional financial system risks, inflation, and currency devaluation.

Emily: So, she has a different strategy in mind?

John: Yes, she suggests that instead of selling, Germany should develop a comprehensive Bitcoin strategy. This could include keeping Bitcoin in the state treasury, issuing Bitcoin bonds, and creating a regulatory environment that supports Bitcoin-based innovation. She thinks this could help strengthen Germany’s economic independence and resilience to external financial uncertainties.

Emily: Does the German government still hold any Bitcoin?

John: Yes, as of now, they still hold around 42,274 Bitcoins, valued at approximately $2.4 billion. But it’s unclear if they will continue to sell off their holdings.

Emily: It sounds like this has had a big impact on the market.

John: Definitely. The German government’s actions have sparked significant debate and have had a noticeable impact on the market. It’s a good example of how complex and controversial cryptocurrency can be in today’s financial landscape.

Emily: Thanks for the update. It’s really fascinating to see how these decisions can ripple through the market.

John: Anytime! It’s always interesting to follow these developments.

單詞解釋

1. Selling spree

• Definition: A period during which a lot of items are sold very quickly.
• Explanation: This term is often used to describe a situation where someone is selling a large quantity of items in a short amount of time, often leading to a significant impact on the market.
  賣方熱潮：在很短的時間內賣出大量物品的時期。
• Example in conversation: “the German government has started a major selling spree of its Bitcoin holdings.”

2. Bitcoin holdings

• Definition: The amount of Bitcoin owned by an individual or organization.
• Explanation: In this context, it refers to the Bitcoins that the German government owns.
  比特幣持有量：個人或組織擁有的比特幣數量。
• Example in conversation: “the German government has started a major selling spree of its Bitcoin holdings.”

3. Seized

• Definition: Taken by force or authority.
• Explanation: This term is often used in legal contexts to describe the act of taking possession of something, especially as evidence or due to criminal activity.
  扣押：用武力或權力奪取。
• Example in conversation: “The Bitcoins were seized by the German Federal Criminal Police Office.”

4. Cryptocurrency exchanges

• Definition: Platforms where cryptocurrencies are bought and sold.
• Explanation: These are online platforms that allow users to trade cryptocurrencies for other assets, such as traditional currency or other digital currencies.
  加密貨幣交易所：買賣加密貨幣的平台。
• Example in conversation: “the government transferred around $75 million worth of Bitcoin to various cryptocurrency exchanges.”

5. Impact

• Definition: A marked effect or influence.
• Explanation: This term describes the significant effect or influence something has on a situation or the market.
  影響：顯著的效果或影響。
• Example in conversation: “This caused Bitcoin’s price to drop by about 10% since July 1st.”

6. Volatile asset

• Definition: An asset with a price that is likely to change suddenly and unpredictably.
• Explanation: In finance, volatility refers to the degree of variation of a trading price series over time. A volatile asset can experience significant price swings.
  波動資產：價格可能會突然和不可預測地變化的資產。
• Example in conversation: “Some people think it’s a smart move to liquidate such a volatile asset.”

7. Strategic reserve currency

• Definition: A currency that is held in significant quantities by governments or institutions as part of their foreign exchange reserves.
• Explanation: This concept refers to using a currency as a major reserve to protect against economic instability.
  戰略儲備貨幣：政府或機構作為外匯儲備的一部分持有的大量貨幣。
• Example in conversation: “She believes Bitcoin should be used as a strategic reserve currency.”

8. Divesting

• Definition: The process of selling off subsidiary business interests or investments.
• Explanation: This term is used when an entity decides to sell off its assets, usually for financial or strategic reasons.
  撤資：出售附屬業務利益或投資的過程。
• Example in conversation: “she suggests that instead of selling, Germany should develop a comprehensive Bitcoin strategy.”

9. Regulatory environment

• Definition: The framework of regulations and rules that govern a particular activity or industry.
• Explanation: This term refers to the legal and policy conditions that influence how businesses and industries operate.
  監管環境：規範特定活動或行業的法規和規則框架。
• Example in conversation: “creating a regulatory environment that supports Bitcoin-based innovation.”

10. Economic independence

- **Definition:** The state of being self-sufficient and not relying heavily on other countries for economic support.
- **Explanation:** This concept means having a stable and self-reliant economy that is less vulnerable to external shocks.  
  **經濟獨立**：自給自足且不過度依賴其他國家提供經濟支持的狀態。
- **Example in conversation:** "She thinks this could help strengthen Germany's economic independence."

11. Ripple through the market

- **Definition:** To have a widespread effect throughout the market.
- **Explanation:** This phrase means that an action or event causes effects that spread widely across the market.  
  **在市場上引起漣漪**：在市場上引起廣泛影響。
- **Example in conversation:** "It's really fascinating to see how these decisions can ripple through the market."

例句

1. Have you heard about…?

   • Example in conversation: John: Hey, have you heard about the recent news regarding the German government and Bitcoin?
   • More examples:
     • Have you heard about the new restaurant that just opened downtown?
     • Have you heard about the changes in the company’s policy?
     • Have you heard about the latest movie release?

2. What happened?

   • Example in conversation: Emily: No, what happened?
   • More examples:
     • I missed the meeting. What happened?
     • You look upset. What happened?
     • There was an accident on the highway. Do you know what happened?

3. How much have they…?

   • Example in conversation: Emily: Really? How much have they sold so far?
   • More examples:
     • How much have they invested in the new project?
     • How much have they donated to the charity?
     • How much have they spent on marketing this year?

4. Where did they get… from?

   • Example in conversation: Emily: Wow, that’s quite a lot. Where did they get all that Bitcoin from?
   • More examples:
     • Where did they get the funding for their startup from?
     • Where did they get this information from?
     • Where did they get the idea for their new product from?

5. What impact has this had on…?

   • Example in conversation: Emily: Interesting. So, what impact has this had on the market?
   • More examples:
     • What impact has this had on the company’s profits?
     • What impact has this had on the environment?
     • What impact has this had on our plans?

6. That must have…

   • Example in conversation: Emily: That must have stirred up some reactions.

• More examples:
  • That must have been a tough decision.
  • That must have caused a lot of confusion.
  • That must have taken a lot of effort.

7. What does she say about…?

   • Example in conversation: Emily: What does she say about it?
   • More examples:
     • What does she say about the new policy?
     • What does he say about the proposed changes?
     • What do they say about the new regulations?

8. Does the… still…?

   • Example in conversation: Emily: Does the German government still hold any Bitcoin?
   • More examples:
     • Does the company still offer that service?
     • Does the store still have that item in stock?
     • Does the event still happen every year?

9. It sounds like…

   • Example in conversation: Emily: It sounds like this has had a big impact on the market.
   • More examples:
     • It sounds like you had a great time.
     • It sounds like the project is progressing well.
     • It sounds like the new system is working smoothly.

10. Thanks for the update.

    • Example in conversation: Emily: Thanks for the update. It’s really fascinating to see how these decisions can ripple through the market.
    • More examples:
      • Thanks for the update. I’ll keep that in mind.
      • Thanks for the update. It’s good to know.
      • Thanks for the update. I’ll inform the team.