What a "drama"! The German government is making a big Bitcoin drama! They transferred a lot of Bitcoin to the exchange last week. Just when everyone thought they were going to sell off and the market sentiment began to panic, what happened?
A few days ago, the German government bought back $111 million worth of Bitcoin! 😅
According to Arkham's detection, the German government's wallet address has 1,915 more Bitcoins. However, just last week, the German government transferred out $117 million worth of Bitcoin. Now, they have "moved" these Bitcoins back. This move is really confusing!
Why do they do this?
The main reason is that a German congressman called for a strategic approach to treat Bitcoin as a strategic reserve currency, because other countries such as the United States are exploring how to integrate Bitcoin into national security and economic policies.
The congressman also said: We need to achieve fiscal diversification and eventually treat Bitcoin as a strategic reserve currency and hold it.