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Cryptocurrency market continues to experience significant price movements. The German government has been actively managing its Bitcoin holdings and conducting important transactions involving this cryptocurrency. About an hour ago, they transferred 5,103 BTC worth approximately $300 million. This movement towards Kraken, Cumberland, Flow Traders, and Coinbase is part of a larger trend observed in the last 24 hours, where the government may have sold Bitcoin worth $500 million.
Mixed Transactions in Bitcoin
During this period, the government sold 11,410 BTC worth approximately $662 million at a price of about $58,002 per Bitcoin.
However, they also repurchased 2,810 BTC worth $162 million at a slightly lower rate of about $57,541 per Bitcoin. These repurchases were likely for unsold BTC and were transferred back to the address.
Another Transaction Conducted
In another development, the government sent an additional 750 BTC to an address identified as 139Po. This transaction likely represents a corporate deposit or over-the-counter (OTC) trade, suggesting that the government might be interacting with institutional investors or conducting large-scale private transactions.
With these two movements, the total amount of Bitcoin transferred by the German government today reached 5,853.5 BTC, equivalent to approximately $343.91 million.
Currently, after the latest transactions, the German government holds about 18,110 BTC worth approximately $1.06 billion. Since these daily transfers impact Bitcoin prices, investors are eager for the German government to exhaust its Bitcoin holdings.
