Germany Sold Bitcoin Worth Over $350 Million in the Last Hours

And today, the wallet belonging to the German government, labeled "German Government (BKA)" continues the series of Bitcoin (BTC) sales.

On July 10 (around 1:30 pm EDT), transfers totaling 3,750 BTC were made from the said wallet to 2 of the major crypto exchanges and Flow Traders.

Flow Traders is a trading company acting as a market maker that provides liquidity to the securities market using high frequency and quantitative trading strategies.

The first transaction consisting of 375 BTC was sent to the crypto exchange Kraken. Shortly thereafter, the same amount of Bitcoin tokens was sent to the largest US exchange Coinbase.

The transfer to Flow Traders was significantly larger – 3,000 BTC, which equates to about $176.26 million.

About 2 hours prior to these transactions, the German government sent another 750 BTC to Kraken ($44.06 million), 500 BTC ($29.38 million) to Coinbase, and 1,127.38 BTC ($66.23 million) on 2 occasions again to Flow Traders.