The German government’s recent sale of 400 Bitcoins, worth nearly $95 million, has sparked criticism from the crypto community, who question the timing and strategy behind the move. This latest sale follows a previous offload of over 1,700 Bitcoins, further reducing the government’s substantial holdings. According to a recent X post by The Data Nerd, […]
The post German Government Sells 400 Bitcoins, Crypto Community Questions Timing and Strategy appeared first on Coin Edition.
- The German government deposited 400 Bitcoins on Coinbase, Bitstamp and Kraken.
- 1,100 bitcoins were also sent to an unknown wallet.
- Bitcoin crashed from $63,200 to $62,800 at the same time.
The German government’s recent sale of 400 Bitcoins, worth nearly $95 million, has sparked criticism from the crypto community, who question the timing and strategy behind the move. This latest sale follows a previous offload of over 1,700 Bitcoins, further reducing the government’s substantial holdings.
According to a recent X post by The Data Nerd, the sale involved 100 BTC deposited on Kraken and 100 BTC on Coinbase, followed by 200 BTC on Bitstamp. Additionally, 1,100 bitcoins were also sent to an unknown wallet named “139Po.”
2 hours ago, #German_gov just transferred out 1,500 $BTC (~$94.94M) to exchanges:
100 $BTC to #Kraken
They still hodls 44,692 $BTC ~ $2.8B.
Address:https://t.co/OeIxrye28N pic.twitter.com/YqGYE8y5J4
— The Data Nerd (@OnchainDataNerd) July 1, 2024
As alluded to, this follows a previous sale of over 1,700 BTC by the government, valued at $110 million. Despite the significan…
The post German Government Sells 400 Bitcoins, Crypto Community Questions Timing and Strategy appeared first on Coin Edition.
