German Government Sells 100% of Its Bitcoins, Arkham Intelligence Confirms

 


Friday, July 12, 2024 – The German government has completed the sale of all its Bitcoins today, according to recent information provided by Arkham Intelligence. This move ends a period marked by intense sales that generated significant volatility in the cryptocurrency market.

At the beginning of the year, Germany was in possession of approximately 50,000 BTC from seizures related to the piracy website Movie2k. Efforts to liquidate these assets have accelerated in recent months. The assets have shrunk from nearly 50,000 BTC to 0 BTC in a three-week period.

Recent transfer activity has been intense, with the German government making significant moves since the beginning of the week. Arkham Intelligence has been monitoring these transactions, noting that the latest batch of Bitcoins has been moved to well-known platforms such as Kraken, Coinbase and Bitstamp, as well as being distributed among highly influential trading desks.

The German government’s complete sale of Bitcoins marks a significant milestone, as the balance in official wallets has now reached zero. This complete liquidation comes at a time when the price of Bitcoin was already facing downward pressure, with a cumulative drop of 15% in the last month, to around $58,200.

Disclaimer:

The views and opinions expressed by the author, or any person mentioned in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.

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