Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/german-government-transfers-bitcoin-to-major-exchanges/" data-wpel-link="internal">German Government Transfers Bitcoin to Major Exchanges</a><br></p>
<p style="text-align: justify">In a significant financial maneuver, the German government is once again in the spotlight. Approximately 900 Bitcoin (BTC), equivalent to around $54.75 million, were transferred in just about two hours. This movement of assets includes a notable portion of 400 BTC worth approximately $24.33 million, transferred to major <a href="https://en.coin-turk.com/the-tangled-web-of-ftxs-founder-scandal-bankruptcy-and-unexpected-legal-proceedings/" data-wpel-link="internal">cryptocurrency exchanges</a> Kraken and Coinbase. These transactions were carried out recently, drawing interest as Bitcoin prices were declining at that time.</p> 
<h2 style="text-align: justify" id="germany-s-bitcoin-holdings">Germany’s Bitcoin Holdings</h2> 
<p style="text-align: justify">This activity is part of a broader context where the German government currently holds a significant amount of Bitcoin reserves. Their holding of 46,359 BTC represents a substantial financial asset worth approximately $2.83 billion at current market values. This significant reserve places the German government among the leading institutional holders of Bitcoin, showcasing their strategic relationship with the cryptocurrency market.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="alignnone wp-image-364909 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/german.jpg" alt="" width="1288" height="296"></p> 
<p style="text-align: justify">Transferring such a large amount of Bitcoin to major exchanges like Kraken and Coinbase signifies either liquidation or reallocation of assets. The government’s transfer to exchanges like Kraken and Coinbase could be preparatory steps for selling a portion of their Bitcoin holdings or for other <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">financial strategies</a> involving cryptocurrency trading.</p> 
<p style="text-align: justify">Finally, the recent transfers coincided with declines in Bitcoin’s price, keeping the market on edge. At the time of writing, Bitcoin’s price stood at $61,215. There is currently no downward movement in BTC prices.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/german-government-transfers-bitcoin-to-major-exchanges/" data-wpel-link="internal">German Government Transfers Bitcoin to Major Exchanges</a></h5>

German Government Transfers Bitcoin to Major Exchanges

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