The German and US governments have transferred more than USD 100 million or the equivalent of IDR 1.6 trillion (assuming an exchange rate of IDR 16,400 per US dollar) in the form of cryptocurrency.
on July 1, 2024, the German government transferred 1,500 Bitcoin (BTC), worth around USD 95 million or the equivalent of IDR 1.5 trillion with part of these funds sent to major cryptocurrency exchanges.
Simultaneously, the US government moved 3,375 Ethereum (ETH), worth around USD 12 million or the equivalent of IDR 196.7 billion, to an undisclosed wallet.
Over the past two weeks, Germany has transferred 2,700 BTC to various exchanges. Apart from these transactions, Germany has large reserves of 44,692 BTC, which are estimated to be worth around USD 2.8 billion or the equivalent of IDR 45.9 trillion.
The US government's Ethereum transfer reportedly came from assets previously seized from Estonian crypto entrepreneurs Potapenko and Turogin, marking a significant change in the management of the funds.
The United States still has 49,320 ETH, with an estimated value of USD 172 million or the equivalent of IDR 2.8 trillion. Further complicating market dynamics is the anticipated start of repayment in the case of Mt. Gox, which is expected to start in July 2024.
