BREAKING: Germany Sells Off All of its Bitcoin Holdings
Bitcoin continues to surprise, and recent market events prove it can be as volatile as it is stable.
After all the market turbulence, a saga has come to an end.
The German government sold all its Bitcoin holdings, which were worth a total of $2.9 billion.
According to Arkham Intelligence, Germany’s wallet, designated as “BKA” has transferred its remaining 3,094 BTC to an over-the-counter selling service, effectively depleting all of its holdings.
READ MORE:
Here’s Who to Blame for Bitcoin’s Decline According to Matrixport Except Germany and Mt.GoxBREAKING: The German Government is now out of Bitcoin.
The German Government just sent 3846.05 BTC ($223.81M) to Flow Traders and 139Po (likely institutional deposit/OTC service).
The German Government has 0 BTC ($0.00M) remaining. pic.twitter.com/R2vfylR1b2
— Arkham (@ArkhamIntel) July 12, 2024
At the time of writing, Bitcoin is trading at $58,230, reporting a minimum 1% increase in the last 24 hours.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Last Cycle’s Signal King Murad: 116 Reasons Why the 2026 Bull Market Will Come
I do not agree with the view that the market cycle is only four years; I believe this cycle may extend to four and a half or even five years, and could last until 2026.
Ethereum completes Fusaka upgrade, team claims it can unlock up to 8x data throughput
Major upgrades, which used to take place once a year, are now happening every six months, demonstrating that the foundation still maintains strong execution capabilities despite recent personnel changes.
Glassnode: Is Bitcoin Showing Signs of a 2022 Crash Again? Beware of a Key Range
The current bitcoin market structure is highly similar to Q1 2022, with over 25% of on-chain supply in a loss, ETF capital flows and spot momentum weakening, and the price relying on key cost basis areas.
Crypto Giants Clash: Faith, Utility, and Macro
Trending news
MoreCrypto prices
More
