German Government Prepares for Next $276 Million Bitcoin Selloff
The German government moved 3,100 Bitcoins worth about $178 million in just one hour, indicating that more selloffs are imminent.
Bitcoin Transfers
Amount and Value: About 3,100 Bitcoins were transferred in one hour, with a total value of $178 million.
Withdrawals from Bitstamp: At the same time, 1,700 Bitcoins were withdrawn from Bitstamp, worth about $91.78 million.
Preparation for Further Selloffs
Main Address Holdings: The German government’s main Bitcoin address currently holds about 26,000 Bitcoins, worth about $1.5 billion.
Selling Address Holdings: The address used for the selloff currently holds 4,800 Bitcoins, worth $276.61 million.
Recent Selling Activity
Bitcoin Flows: In the past two hours, 3,100 Bitcoins were transferred, of which 2,500 were sent to B2C2 Group, 400 to Kraken, and 200 to unknown wallets.
July 8 Selloff: The German government sold $900 million worth of Bitcoin on July 8.
Diversification: Investors should consider diversifying their investments and avoid concentrated holdings of a single asset to cope with possible market fluctuations.
