Germany Sold Another 500 BTC Worth $28 Million

On July 8, a wallet belonging to the German government designated as "German Government (BKA)" transferred 500 BTC to crypto exchanges and another 500 BTC to a government-affiliated address.

The first transaction, consisting of 250 BTC, was sent to the US cryptocurrency exchange platform Coinbase, followed by another transaction of the same value to Bitstamp. The total value of the two transactions was around $27.9 million.

In addition, another 500 BTC were moved to the now familiar wallet identified as “139Po“.

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After these latest transfers, the wallet still holds 38,826 BTC, totaling $2.16 billion.

Amid the concerns these sales are creating among investment circles, one familiar face in the crypto industry joked about Germany.

Recently, Justin Sun joked that Germany’s disappointing quarterfinal elimination from the UEFA Euro 2024 Cup tournament could be related to their decision to “sell too much Bitcoin.”

Alexander Stefanov