German Government’s Bitcoin Holdings Rise to $3B+ Despite Selling 3K BTC
According to Ki Young Ju, Founder & CEO of CryptoQuant, the German government seized 50,000 Bitcoin, selling approximately 3,000 BTC. Notably, the recent surge in Bitcoin prices has led to a $1.1 billion unrealized profit, pushing the value of Germany’s remaining Bitcoin holdings to $3.24 billion. The chart by the CryptoQuant founder dubbed “BTC Unrealized Profit: German Government (BKA)” shows a correlation between Bitcoin’s price and the unrealized profit of the German government’s holdings. As Bitcoin’s price increases, so does the unrealized profit, particularly evident from January 2024 onwards. It is important to note that Germany’s Bitcoin holdings are now the fourth-largest among various governments, holding 50,000 BTC. This amount places Germany behind the United States, China, and the United Kingdom in terms of total Bitcoin holdings.
Comparatively, the United States holds the largest amount with 213,246 BTC, valued at $13.7 billion, followed by China with 190,000 BTC at $12.2 billion. The United Kingdom holds 61,000 BTC, valued at $3.9 billion. Germany’s supply ratio of 0.253% reflects its influence in the Bitcoin market, despite being smaller than the top holders.
Specifically, Ki Young Ju’s post highlights that China likely sold a significant portion of the seized Bitcoins in 2019, as PlusToken holdings were transferred to Chinese exchanges. However, the Chinese government has not officially confirmed these actions.
