According to Arkham Intelligence, the German government recently made a large-scale Bitcoin transfer, transferring at least $195 million worth of Bitcoin (BTC) to exchanges. This action has aroused the attention and concerns of market participants.
In the transaction on June 19, the German government transferred a total of $600 million worth of Bitcoin, of which $130 million was sent to four suspected exchange addresses. After confirmation, three of the addresses belonged to service wallets of well-known cryptocurrency exchanges such as Kraken, Bitstamp and Coinbase.
The market is concerned that the German government may sell a large amount of Bitcoin, fearing that this will have a negative impact on the Bitcoin market and cause price fluctuations.
The transfer of the bitcoins was carried out by Germany’s Federal Criminal Police (BKA), which seized the bitcoins from the piracy website Movie2k.to, which was run by two people, earlier this year in one of the largest cryptocurrency confiscations so far in 2018.
According to Arkham Intelligence, following this transaction, the German government currently holds 47,179 BTC, worth approximately $3 billion at press time.
Overview of Bitcoin Holdings by Country
Germany is the world’s fourth-largest bitcoin holder, according to BitcoinTreasuries, with the German government holding about $3 billion worth of bitcoin, acquired in part through law enforcement actions.
The United States, China and the United Kingdom ranked ahead of Germany, with Bitcoin holdings valued at $13.9 billion, $12.4 billion and nearly $4 billion, respectively. The Bitcoin accumulation in these countries mainly comes from law enforcement seizures.
Ukraine ranks fifth with 46,351 BTC, mostly from former government official Yury Shchigol.
At the same time, some countries are actively accumulating Bitcoin through purchases, investments, and donations.
El Salvador was the first country in the world to adopt Bitcoin as legal tender and currently holds 5,779 BTC, worth approximately $390 million. El Salvador has made significant profits since starting buying Bitcoin in September 2021.
Likewise, Venezuela has turned to Bitcoin as a solution amid challenges of hyperinflation and U.S. sanctions, and the Central African Republic recently announced it would adopt Bitcoin as its official currency, showing an open attitude toward cryptocurrencies.
Meanwhile, Bhutan has been quietly mining Bitcoin since 2019 and currently holds around 621 BTC, showing that even small countries are exploring the role of Bitcoin in their economies. #德国政府 #比特币 #加密货币
Conclusion
The German government's Bitcoin transfer event highlights the importance of cryptocurrencies in national asset allocation. At the same time, governments around the world have different attitudes and strategies towards Bitcoin, from law enforcement seizure to active purchases and investments, and Bitcoin's position in the global financial system is gradually being recognized.
As more and more countries begin to explore the possibility of Bitcoin as a national asset reserve, the cryptocurrency market may usher in more attention and volatility. These dynamics not only reflect the global influence of Bitcoin, but also foreshadow the potential role of cryptocurrency in the future financial market.
