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German government offloads its final Bitcoin holdings
The German government officially has zero $BTC left after weeks of dumping its reserves onto the market, keeping the price below $60,000.
Germany’s government offloaded the last of its Bitcoin holdings on July 12, according to data from Arkham Intelligence.
The final transaction included 3,846 Bitcoin $BTC $58,639 sent to “Flow Traders and 139Po,” which Arkham described as “likely institutional deposit/OTC service.” The transaction followed weeks of increased selling pressure from the German government, which offloaded tens of thousands of Bitcoin in several tranches.
Most of the 50,000 Bitcoin dumped by the German government over the last three weeks resulted from an asset seizure and was largely responsible for keeping the market below the $60,000 price point and its 200-day exponential moving average.
