German Government Only Has 9,094 Bitcoins to Sell!
The German government on Thursday sold an additional $376 million worth of Bitcoin on July 11, bringing its total holdings below 10,000 $BTC .
Germany liquidated 82% of its Bitcoin reserves last month, selling approximately 41,000 BTC. Despite the German government's harsh sell-off, the price of #Bitcoin has remained relatively stable around $57,000 thanks to strong inflows into #ETF .
The market is also focusing on broader economic indicators, such as lower-than-expected June CPI data in the US.
The German government's Bitcoin sales continued late on Thursday, July 11, selling a total of $376 million worth of Bitcoin, bringing the company's total assets below 10,000 BTC.
So far, there has been no official statement from the German government as to why they sold their BTC so quickly. There is also no clear logic as to why the government sold earlier and bought partial BTC in the market.
