The post German Government Sells $195M In Bitcoin, Has $3B Left appeared on BitcoinEthereumNews.com.

The German government has intensified its liquidation of Bitcoin BTC/USD assets selling $195M in Bitcoin and having just $3B left. This move generated significant market interest and raised questions about its long-term financial strategy. According to fresh updates from blockchain intelligence firm Arkham, the German authorities have sold Bitcoin worth over $195 million, with substantial transfers to major cryptocurrency exchanges such as Coinbase COIN, Kraken and Bitstamp. UPDATE: German Government Still Selling BTC > $195M So Far. In the past 2 hours, the German Government sent $65M in BTC to 2 likely exchange deposits including Coinbase. The German Government moved $600M BTC yesterday, sending $130M BTC to 4 likely exchange deposits including… pic.twitter.com/in2urlDBE0 — Arkham (@ArkhamIntel) June 20, 2024 In the past 24 hours alone, the German government has moved $65 million in Bitcoin to likely exchange deposits, following a previous transfer of $130 million to four exchange deposits, including Kraken and Bitstamp. These transactions are part of a broader liquidation strategy that saw the government move $600 million in Bitcoin yesterday. Despite these significant sales, the German government still holds approximately $3.05 billion in Bitcoin. The substantial Bitcoin holdings of the German government originate from a major seizure conducted by the German Federal Criminal Police Office (BKA). In a high-profile case, the BKA confiscated nearly 50,000 Bitcoin, valued at approximately $2.12 billion, from the operators of Movie2k.to, a notorious film piracy website active in 2013. The Bitcoin was handed over to the authorities following a ‘voluntary transfer’ from the suspects in mid-January, adding to the government’s substantial digital asset portfolio. Financial experts have voiced concerns over the potential long-term implications of Germany’s aggressive Bitcoin liquidation. Miguel Loures, founder of Pulsar Finance, highlighted the risks associated with this strategy. “Germany has been losing its industrial edge over the past decade.…

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Filed under: News - @ June 22, 2024 1:04 am