German government transfers another 1,000 bitcoins in ongoing selling spree | Headlines | News | CoinMarketCap
07/08/2024 14:45
The German government continues to transfer bitcoins to centralized exchanges with the presumed intent to sell. Data from the on-chain analytics …
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Published on July 08, 2024 07:35 GMT+00:00edited on July 08, 2024 07:39 GMT+00:00
The German government continues to transfer bitcoins to centralized exchanges with the presumed intent to sell.
Data from the on-chain analytics platform Arkham show addresses labeled as belonging to the German government transferring 250 bitcoins to Bitstamp and 250 bitcoins to Coinbase — totaling nearly $28 million at current prices.
An additional 500 bitcoins were transferred to an unlabelled address that may potentially belong to a centralized crypto exchange or OTC service.
The German government currently holds 38,826 bitcoins on known addresses — totaling $2.17 billion.
Germany's weeks-long selling spree hasn't been popular with everyone in the country's government. Member of the German Bundestag Joana Cotar heavily criticized the government's decision to "hastily" sell the …