German Government Unloads BTC, Net Outflows Continue

IconCryptoNewsTerminal Staff11 Jul, 2024

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German Government Unloads BTC, Net Outflows Continue

German Government Sells BTC as Net Outflows Continue According to blockchain analysis firm Arkham, a massive sell-off of Bitcoin (BTC) was detected from an address labeled as the German government. The address is estimated to have deposited 1,125 BTC in 375 BTC increments on exchanges such as Bitstamp, Kraken, and Coinbase. Additionally, 1,000 BTC was transferred to an address believed to belong to bitcoin OTC brokerage group B2C2. The remaining 250 BTC was sent to an anonymous address. Since the German government began selling BTC in June, it has continuously transferred BTC to external wallets. Currently, the government's balance stands at approximately 13,177 BTC (approximately $767 million).

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