- Germany's government executed significant Bitcoin transactions, moving 900 BTC into major exchanges like Kraken and Coinbase, and an additional 500 BTC to an unidentified wallet.
- Additional movements included transferring 250 BTC to Bitstamp and Kraken, suggesting potential asset sales.
On Tuesday, Germany's government moved over 900 Bitcoin (BTC) in two significant moves, with 400 BTC valued at nearly $25 million deposited into the Kraken and Coinbase exchanges. This follows a previous transfer of about 1,700 Bitcoins to three different exchanges. Additionally, 500 BTC were moved to an unidentified wallet.
These transactions have heightened intrigue and speculation in the cryptocurrency community, particularly amidst increasing whale activity and the ongoing market dynamics between bulls and bears.
A report from The Block reveals that German authorities transferred another 250 BTC, valued at $15.4 million, to Bitstamp and Kraken exchanges on Wednesday morning, suggesting a possible sale of the assets.
According to the blockchain analytics firm Arkham, the German Federal Criminal Police Office (BKA) distributed 125 BTC, worth approximately $7.7 million, to each exchange at around 7:52 a.m. UTC. At the same time, an additional 500 BTC ($30.9 million) was sent to an unidentified address "139Po," which might also be linked to an exchange.
Last week, the German government initiated a series of Bitcoin transfers, moving about $150 million worth of seized Bitcoin to various crypto exchange addresses and an additional $147 million to the "139Po" address.
Additionally, Germany received 310 BTC ($20.1 million) back from Kraken and 90 BTC ($5.5 million) from wallets associated with Robinhood, Bitstamp, and Coinbase since June 20, as reported by Arkham.
Germany recently dropped to the fifth spot in the list of the largest government holders of Bitcoin, according to Bitcointreasuries. However, at the time of writing, it is now the fourth largest government holder of Bitcoin with 48,000 BTC, above Ukraine which holds 46, 351 BTC.
Edited by Harshajit Sarmah
