The German government continues to liquidate seized Bitcoin (CRYPTO:BTC), selling up to $175 million in BTC on July 4, as reported by blockchain intelligence firm Arkham (CRYPTO:ARKM).

Despite these sales, Germany still holds more than 40,000 BTC, valued at over $2.3 billion.

This ongoing liquidation coincides with the anticipated Mt. Gox Bitcoin distributions, putting pressure on Bitcoin's price, which has dropped below $57,000.

Tron founder Justin Sun has offered to purchase the remaining Bitcoin from the German government off-market to minimise price impact.

Arkham reported that Germany recently moved 1,300 BTC to exchanges and 1,700 BTC to an institutional service or OTC address.

The Mt. Gox Trustee has indicated distributions will start in July, though no specific date has been provided.