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“.
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.”
Switzerland’s central bank remains firmly opposed to adding Bitcoin to its reserves, despite growing pressure from crypto advocates.
Bitcoin investment products just recorded one of their strongest weeks in recent memory, as spot BTC ETFs based in the U.S. attracted over $3 billion in new inflows.
Crypto analytics firm Alphractal has released new insights into the altcoin market, highlighting RAY as the token with the highest long-to-short ratio among major altcoins.
Semler Scientific has quietly built up a sizable Bitcoin position, acquiring 111 BTC between mid-February and late April for a total of $10 million.