Germany Turned to Selling Bitcoin Today Too: Moved 342 Million Dollars!

The German government once again became a hot topic in the market with its last-minute Bitcoin (BTC) transactions.

Remarkable transactions were seen in Germany's cryptocurrency wallets on July 10, around 12.10 CET. According to data provided by Spot On Chain, the government transferred 5,853 BTC worth $342 million to many exchanges and market makers, such as cryptocurrency exchange Coinbase, Kraken, Flow Traders and Cumberland.

In the last 24 hours, Germany caused confusion by making many Bitcoin transactions and withdrawing some of them to the wallet.

In parallel with the latest transfers, the German government currently holds 18,860 Bitcoins worth $1.11 billion.

Bitcoin price reacted

According to CoinGecko data, Bitcoin, which reached up to $ 59,400 in the morning hours of this morning, had started to withdraw before the transfers. With the market decline in transfers, the Bitcoin price reacted with a decline close to $600.

Bitcoin is trading at $58,508 at the time of writing.