Main Points about Bitcoin and German Government’s Holdings:
Germany has completed the sale of its Bitcoin holdings, totaling $2.9 billion, after starting with 50,000 BTC. The last of the 3846.05 BTC was transferred to Flow Traders and 139Po. The German government’s decision to sell off their seized BTC has been criticized as a strategic blunder.
German Government’s Bitcoin Holdings Transfer:
According to blockchain data from Arkham Intelligence, the German government has completed the transfer of their Bitcoin holdings. Initially holding 50,000 BTC, they have sold off all remaining Bitcoin, totaling $2.9 billion. The last of the BTC was sent to Flow Traders and 139Po, marking the end of their nearly three-week long selling spree.
Impact of Germany’s BTC Selling:
Germany’s decision to sell off their seized Bitcoin holdings has led to a significant price correction in the market, with BTC dropping by roughly 18%. Despite Germany wrapping up its selling, Mt. Gox and Genesis Trading continue to sell off substantial amounts of BTC, contributing to the ongoing price decline in the cryptocurrency market.
