Another 400 Bitcoin sales came from the German government

The German government, which transferred and sold more than 1700 Bitcoins to various exchanges last week, transferred a total of 400 Bitcoins to Coinbase and Kraken exchanges today.

The German state continues to sell the 50 thousand Bitcoins it has. Significant transfers took place today from wallets monitored by the blockchain tracking and analysis company Arkham. A total of 400 BTCs, 200 each, were sent to the Kraken and Coinbase exchanges. The total value of BTCs is around 25 million dollars.

There is $2.8 billion worth of Bitcoin

In 2020, the German government seized thousands of Bitcoins from the pirated movie site Movie2K as a result of its joint operations with the FBI. The number of pieces last reached 50 thousand. The Germans decided to sell these BTCs years later. Finally, last week more than 1700 Bitcoins; Kraken was sent to Coinbase and Bitstamp exchanges and sold. Germans still hold $2.8 billion worth of Bitcoin.

It was effective in the declines

With these sales, which are thought to have a limited effect on the Bitcoin decline, Mt. Gox exchange's refund announcement and geopolitical tensions combined, Bitcoin price dropped to 60 thousand dollars.

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