The German government has become a major talking point in cryptocurrency circles after completely liquidating its Bitcoin (BTC) holdings. Over the past 3 weeks, German authorities have sent the entire balance, which amounted to 49,860 BTC or about $2.9 billion, to exchanges and market makers. This move came as a surprise to many analysts and industry participants, given the current volatility and growth prospects for the flagship digital coin.
Two hours after the transfer of the last batch of bitcoins was completed, 0.0000321 BTC arrived at the government address from an unknown person, making Germany's current national holdings of the cryptocurrency equal to approximately $1.87. This incident attracted attention and raised a lot of questions regarding the future strategy of the German authorities regarding crypto assets.
Arkham Intelligence, one of the leading blockchain analytics companies, actively tracks the movements of cryptocurrencies, including the balance sheets of various governments. In addition to Germany, other countries also have significant BTC reserves. For example, US authorities own bitcoins that were confiscated as a result of various operations, including the Silk Road case. The balance of the United States is several tens of thousands of BTC.
Other governments actively involved in the accumulation of cryptocurrencies include Bulgaria and Ukraine.
The Bulgarian government controls one of the nation's largest bitcoin reserves, which was seized as a result of operations against organized crime. The exact amount is kept secret, but it is estimated that it could exceed 200 thousand BTC. According to rumors, Ukraine is also actively using cryptocurrencies to finance various projects and support the economy. In addition, expert and journalist Colin Wu recently stated that the Chinese government may also continue to own Bitcoin if it has not sold off its assets.
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