2024

Bitcoin

Coin

<ul class="news-points">
 <li><strong>Lookonchain reported the German government transferred 3,000 BTC out of its portfolio.</strong></li>
 <li><strong>1,300 units of the transferred BTC went to three centralized exchanges.</strong></li>
 <li><strong>The recent crypto selloff has led to a 9.11% drop in the total crypto market cap.</strong></li>
</ul>
<p>The German government has reportedly moved a significant amount of Bitcoin from its holdings, raising questions about its investment strategy and potentially adding to recent downward pressure on the cryptocurrency’s price.</p>
<p>On-chain analytics platform Lookonchain revealed that 3,000 BTC, valued at $174 million, were transferred, with a significant portion distributed among major crypto exchanges Bitstamp, Coinbase, and Kraken. The latest transfer leaves the government with 40,359 Bitcoins, equivalent to $2.33 billion in its holdings.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">The German Government transferred 3,000 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a>($174M) out again, of which 1,300 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a>($75.5M) was transferred to <a href="https://twitter.com/hashtag/Bitstamp?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitstamp</a>, <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Coinbase</a> and <a href="https://twitter.com/hashtag/Kraken?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Kraken</a>.<br><br>German Government currently holds 40,359 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a>($2.33B).<a href="https://t.co/x0aJljKn2C" target="_blank" rel="noopener noreferrer nofollow">https://t.co/x0aJljKn2C</a> <a href="https://t.co/Bk6oDEmGOa" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/Bk6oDEmGOa</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1808793462575411233?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 4, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>Lookonchain’s latest report detailed the series of Bitcoin transfers linked to the German governm…</p>
<p>The post <a href="https://coinedition.com/bitcoin-price-plunge-german-governments-btc-sell-off-adds-to-market-woes/" rel="noopener noreferrer nofollow">Bitcoin Price Plunge: German Government’s BTC Sell-Off Adds to Market Woes</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

Bitcoin Price Plunge: German Government’s BTC Sell-Off Adds to Market Woes

Coin Edition

Other articles published on Jul 4, 2024

MoonBag Presale Status Updated to Top Crypto Presale in 2024, Leaving Hedera’s Scalability Issues...

Stage 6 Presale Completion: MoonBag Shines Amid Near Protocol and Binance Issues

Bitcoin Cash (BCH) Sees Record Hashrate as Price Hits 3-Month Low

Polkadot Decoded 2024: Uniting Innovators in Blockchain Technology

Bitwise Takes Key Step Toward Launching Spot Ethereum ETF

Book of Meme Hits Key Support Level

Join our free newsletter for daily crypto updates!