German Government Transfers 2,700 BTC Worth $154 Million to Exchanges
CryptoNewsTerminal Staff12 Jul, 2024
German Government Transfers 2,700 BTC Worth $154 Million to Exchanges
The German government has reportedly transferred a large amount of Bitcoin (BTC) to various cryptocurrency exchanges. Arkham Intelligence, a blockchain analytics company, shared on-chain data indicating that an alleged German government address initiated a transfer of around 2,700 BTC, roughly equivalent to $154 million at the current market price. The German government has been taking steps to regulate cryptocurrencies, and this recent transfer could be part of an effort to manage its BTC holdings in a more secure and transparent manner.