We are trying to make the Binance SQUARE Platform more valuable and attentive for you. Here are the details of our news;
The German government continues to put selling pressure on Bitcoin (BTC).
According to data from blockchain analysis firm Arkham, the German government made a Bitcoin transfer of tens of millions of dollars today around 11:30 Turkey time.
Submissions to Stock Exchanges
According to blockchain records, the German government sent a total of 400 Bitcoins to the Kraken, Coinbase and Bitstamp exchanges. The value of these Bitcoins was recorded as $25.28 million at the time of the transaction.
The German government also transferred another 1,100 Bitcoins to unknown wallets. German authorities processed a total of 1,500 Bitcoins ($94.7 million).
Selling Pressure Continues
At the beginning of the year, Germany announced that it had seized 50,000 Bitcoins from a pirate site. The government has never undertaken another Bitcoin operation of this size. In 2023, the US government also confiscated $216 million worth of Bitcoin from Silk Road.
The German government sent more than 2,700 Bitcoins to central cryptocurrency exchanges in the last two weeks. Hundreds of Bitcoins were sent to Kraken and Flow Traders addresses five days ago. It is estimated that the government sold these Bitcoins.
These transactions create selling pressure on the Bitcoin price. According to Arkham data, the German government still has 44,692 Bitcoins worth $2.81 billion in its wallet.
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I EXPLAIN IN DETAIL.
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