The German government has once again made a move with Bitcoin, transferring 400 Bitcoins valued at around $24.34 million to Coinbase and Kraken, according to data from Arkham Intelligence. This comes at a time when Bitcoin has been experiencing sudden declines, including intense sales by Bitcoin miners and an announcement regarding Mt.Gox Bitcoin refunds.
Despite the German government’s Bitcoin transfer, the impact on the BTC price seems minimal, with Bitcoin continuing to be traded at $60,800 at the time of writing. It is worth noting that the German government still holds approximately $2.84 billion worth of BTC, according to Arkham data.
It is not the first time the German government has transferred BTC to various exchanges, including Coinbase and Kraken. While the market remains relatively unaffected by these transfers, it is an interesting development to keep an eye on.
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