🚨🚨🚨The German government now has less than 10,000 BTC🚨🚨🚨
The German government now has less than 10,000 BTC, just 18% of what it had less than a month ago.
The German government's bitcoin wallet has shrunk to 9,094 bitcoins - just 18% of what it started with - following the latest series of transfers to crypto exchanges on July 11.
The wallet, which has been storing bitcoins
BTC
tickers down
€53,717
seized in an operation against a movie piracy website in January, has transferred billions in bitcoin since June 19, but stepped up its efforts in early July.
On July 11, the wallet briefly fell below 5,000 BTC after sending 10,620 BTC valued at about $615 million to crypto exchanges Coinbase, Bitstamp, Kraken, Flow Traders and two anonymous addresses, the blockchain intelligence company noted. Arkham.
However, shortly after, some of those funds were transferred back to the German government wallet, bringing Germany's bitcoin holdings back above 9,000 BTC.
The current count means the German government only owns 18% of the 49,857 bitcoins it seized from movie piracy website Movie2k in January.
Arkham believes that the two anonymous addresses ending in "139Po" and "bc1qu" are likely owned by institutional depository or over-the-counter trading service providers. However, this has not been confirmed.
Germany's sell-off has not sat well with German lawmaker and bitcoin activist Joana Cotar, who argued in early July that BTC could have been adopted as a "strategic reserve currency" to protect against risks in the traditional system.
One Ordinals user apparently expressed his own frustrations in an inscription, which translates to "Taxes are theft."
