The latest situation of the German government selling Bitcoin
Since mid-June 2024, the German government has transferred about $315 million in Bitcoin to various platforms, and sold more than $390 million in Bitcoin in less than a month.
It began to sell Bitcoin on June 19, selling 6,500 BTC on the first day, and then transferred a small amount. On July 4, it transferred another 1,300 BTC to the exchange and transferred 1,700 BTC to an anonymous wallet address. In about half a month, the German government sold about 9,400 BTC!
According to the monitoring of the on-chain analyst Ember, the address marked as the German government has transferred 7,828 Bitcoins since June 19, worth about $496 million. According to Lookonchain monitoring, since June 19, the German government address has transferred 13,466 BTC ($819.3 million) and currently still holds 27,461 BTC.
The reason why the German government sold Bitcoin may be to obtain funds or adjust asset allocation. In addition, according to German regulations, some federal states stipulate that seized assets must be sold immediately.
In 2013, the German Federal Criminal Police (BKA) seized nearly 50,000 Bitcoins related to the former operator of the movie piracy website Movie2K. At current prices, these assets are worth an estimated $2.3 billion.
The above content is for information sharing only and does not constitute any investment advice! Investment is risky and you need to be cautious when entering the market!
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