Greed

Reserve

Bitcoin

Arkham

The German government has sold all its Bitcoin holdings with its wallet now showing a $1.85 balance as confirmed by Arkham Intelligence.
This last transaction involved 3,094 BTC (approximately $176 million) transferred to an unknown address starting with “139Po”
<figure class="wp-block-image size-large"><img fetchpriority="high" decoding="async" width="1024" height="632" src="https://www.cryptotimes.io/wp-content/uploads/2024/07/German-Government-1024x632.png" alt="German Government" class="wp-image-189873" srcset="https://www.cryptotimes.io/wp-content/uploads/2024/07/German-Government-1024x632.png 1024w, https://www.cryptotimes.io/wp-content/uploads/2024/07/German-Government-800x494.png 800w, https://www.cryptotimes.io/wp-content/uploads/2024/07/German-Government-768x474.png 768w, https://www.cryptotimes.io/wp-content/uploads/2024/07/German-Government-860x531.png 860w, https://www.cryptotimes.io/wp-content/uploads/2024/07/German-Government.png 1269w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 Image Source: <a href="https://platform.arkhamintelligence.com/explorer/entity/germany" target="_blank" rel="noopener noreferrer nofollow">Arkham Intelligence</a>
 </figcaption>
</figure>
On July 12, the government <a href="https://platform.arkhamintelligence.com/explorer/entity/germany" target="_blank" rel="noopener noreferrer nofollow">sent</a> 2,700 BTC (worth $153 million) to platforms like Coinbase, Bitstamp, Kraken, and the same unknown address and two other addresses “guzr4j” and “bc1qu.”
These Bitcoins originated from a seizure linked to a film piracy website in January. Since mid-June, the government has been gradually liquidating its holdings of 50,000 BTC, accelerating sales in early July.
The decision to divest all Bitcoin holdings has drawn criticism from Joana Cotar, a German lawmaker and Bitcoin advocate, who <a href="https://www.cryptotimes.io/2024/07/05/joana-cotar-urges-german-government-to-halt-bitcoin-sales/" rel="noopener noreferrer nofollow">argued</a> that the cryptocurrency could have been retained as a strategic reserve against traditional financial risks.
This significant sell-off, coupled with concerns over potential Bitcoin releases by Mt. Gox to its creditors, has contributed to market instability. The Crypto Fear &amp; Greed Index has entered the “Extreme Fear” zone, with Bitcoin currently trading at $57,596, reflecting a 0.44% decline in the last 24 hours according to <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap.</a>
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also Read: <a href="https://www.cryptotimes.io/2024/07/04/justin-sun-offers-to-purchase-germanys-2-3b-bitcoin-reserve/" rel="noopener noreferrer nofollow">Justin Sun Offers to Purchase Germany’s $2.3B Bitcoin Reserve</a>
</blockquote>

German Government Sells Off All Bitcoin: Wallet Emptied to $1

The Crypto Times

Other articles published on Jul 12, 2024

US District Judge advises Coinbase to reconsider subpoena for SEC Chair Gensler

Shiba Inu 180% Surge in Buys: Reversal Incoming?

Whale Activities Increase in The Open Network (TON)

King Doge (KINGDOGE) Will Explode 14,000% Before KuCoin Listing, as Shiba Inu, Bonk and Dogecoin Lag

US Inflation Report Shifts Bitcoin Sentiment

Gasless Messaging on AskAnon Blink Simplifies User Experience

Join our free newsletter for daily crypto updates!