🚨 German Government's Bitcoin Strategy Under Scrutiny as 1,125 BTC Shifted to Exchanges

🔄 In a surprising move amidst the recent Bitcoin market downturn, the German government has transferred a significant amount of 1,125 BTC ($65.3 million) to prominent cryptocurrency exchanges like Coinbase, Kraken, and Bitstamp.

🔍 The blockchain intelligence platform Arkham reveals that this latest series of transactions occurred at around 7:50 a.m. UTC on July 11. Notably, each exchange received an equal share of 375 BTC ($21.8 million).

💼 Moreover, the government diversified its holdings by allocating 1,000 BTC ($58.1 million) to the B2C2 Group wallet, known for its role as a market maker and OTC service provider.

🟥 A smaller portion of 250 BTC ($14.5 million) found its way to an address associated with a suspected OTC service institutional deposit.

🔄 This flurry of activity continued as the German government later shifted nearly 152 BTC ($8.9 million) to crypto market maker Cumberland DRW.

💰 Despite these substantial outflows, the German government's Bitcoin wallet still boasts an impressive balance of 12,925 BTC, valued at approximately $756.336 million.

🔎 These recent transfers come on the heels of an unexpected inflow of 2,442 BTC on July 10, originating from various sources including Kraken and unknown addresses – potentially linked to prior agreements or even the infamous Movie2K piracy case.

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