Germany’s government has once again made a significant transfer of Bitcoin, causing speculation about its impact on the cryptocurrency’s decline. The government sold 1,000 BTC, equivalent to $55.8 million, continuing a trend that started in mid-June. The German government divided the transfer, with 500 BTC going to Bitstamp and Coinbase, valued at approximately $27.9 million each. The remaining 500 BTC was sent to an undisclosed address, potentially belonging to an institution or OTC service. This latest transfer brings the German government’s total Bitcoin holdings to 38,826 BTC, valued at $2.17 billion. It remains to be seen how these actions will affect the overall Bitcoin market. As always, this information is not investment advice. For those interested in investing in cryptocurrencies, Binance exchange offers a 20% commission discount for registration. Stay updated on the latest news, analytics, and on-chain data by following our Telegram and Twitter accounts.
