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

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.