Samson Mow, a leading Bitcoin (BTC) advocate and maximalist, has proposed a bold buyback strategy aimed at restoring 50,000 Bitcoins to Germany’s national reserves. This offer comes in relation to the recent sale of the same amount of Bitcoin, which resulted in zero BTC now remaining in the government wallet.

Samson Mow Expands Bitcoin Buyback Offer

The German government has successfully disposed of a Bitcoin reserve seized from the now-defunct Movie2k website. Joana Cotar, an independent member of the German Bundestag, took to the social media platform X to express this situation. “0,” Cotar wrote, noting the zero balance of Bitcoin the government currently owns. “Congratulations, you must be this stupid first,” she continued.

This statement highlights his dissatisfaction with the government’s handling of cryptocurrency assets. Additionally, Samson Mow’s proposal coincides with growing criticism and calls for a more strategic approach to crypto management. In a post on X, Mow argued that the German government had no choice but to dispose of the confiscated BTC. Therefore, she suggested that a solid plan should be created to regain at least 50,000 BTC.

“The German government had no choice but to dispose of the 50,000 BTC confiscated from Movie2k. However, we must create a concrete nation-state #Bitcoin adoption strategy to restore at least 50,000 BTC to Germany this October,” Mow said. he wrote. He also tagged both Joana Cotar and Bitcoin im Bundestag, an organization dedicated to the advancement of Bitcoin education in politics.

The debate was further fueled by a user’s query about legal obligations regarding the sale of seized BTC. Mow explained that in many jurisdictions, including Germany, governments are required to liquidate seized assets. This point explains the possible reason for the recent sell-off.

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The German government wallet responsible for sending large amounts of Bitcoin to exchanges and market institutions received 2442 Bitcoins back from exchanges and institutions late last night.

According to data from Arkham, the wallet received 903 Bitcoins ($52.3 million) from crypto exchange Kraken. Additionally, 1,529 BTC ($88.6 million) inflows were seen from addresses not yet tagged by the on-chain analytics platform. The German government also received ten BTCs ($575,000) from Bitstamp.

Might interest you: Germany Continues to Sell Bitcoin: New Transfer of 5800 BTC

Yesterday, after a large amount of bitcoin outflow to exchanges and institutions, there were returns to the wallet controlled by German authorities. As The Block previously reported, more than 10,853 bitcoins (worth $637.7 million at the time) were transferred out yesterday.

As for the reason why bitcoins returned to the German government wallet after exiting, it is estimated that there may be “unsold bitcoins as part of a sales agreement between the crypto exchange and the country,” according to Steven Zheng, Research Director of The Block.

The latest transfers are in line with the German government’s strategy to sell 50,000 bitcoins seized from movie piracy site Movie2K, which went bankrupt in January.

German Bundestag member and bitcoin advocate Joana Cotar criticized the government’s decision to “hastily” sell its holdings of bitcoins instead of a comprehensive bitcoin strategy as “unproductive”.

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