Another direction of FUD that is currently pushing the crypto market down is sales from the wallets of the German and US governments.
And, taking into account the fact that manipulators will soon not be able to play on the Mt.Gox payout theme (because the payouts are not as scary as they tried to convince) - this will now be a top topic. For lack of / until others appear.
Germany is now the main villain in this story. We have already written about where they get#BTCand how they drain it. And the process continues. For example, following the results of July 4, a total of 3,000 BTC worth $173.1 million was transferred to exchanges from a crypto wallet controlled by the German authorities. The movements on July 5, as can be seen from the screenshot from #Arkham, continued.
There are 41,226 BTC ($2.28 billion) left on the balance of the German wallet.
Hype lover Justin Sun has already stated that he is ready to buy back all their BTC from Germany via OTC (and, as always in such loud statements, he is unlikely to do this).
#Glassnode analysts showed a graph of the BTC balance of the German government. It doesn't look like they have any plans for a hold.
It got to the point that a member of the German Bundestag, Joana Cotard, said that the government’s sale of BTC is “not reasonable.” She calls for “keeping BTC as a strategic reserve currency.” Reducing the risk associated with traditional investments. In addition to holding BTC on the German balance sheet, Cotard also proposed issuing BTC bonds and creating a favorable regulatory environment.
US government sales are also adding fuel to the fire. From the latter - confiscated BTC Silk Road. But the situation there in terms of volumes is not so critical.
