2024

Coin

<ul class="news-points">
 <li>The German government deposited 400 Bitcoins on Coinbase, Bitstamp and Kraken.</li>
 <li>1,100 bitcoins were also sent to an unknown wallet.</li>
 <li>Bitcoin crashed from $63,200 to $62,800 at the same time.</li>
</ul>
The German government’s recent sale of 400 Bitcoins, worth nearly $95 million, has sparked criticism from the crypto community, who question the timing and strategy behind the move. This latest sale follows a previous offload of over 1,700 Bitcoins, further reducing the government’s substantial holdings.
According to a recent X post by The Data Nerd, the sale involved 100 BTC deposited on Kraken and 100 BTC on Coinbase, followed by 200 BTC on Bitstamp. Additionally, 1,100 bitcoins were also sent to an unknown wallet named “139Po.”
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 2 hours ago, <a href="https://twitter.com/hashtag/German_gov?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#German_gov</a> just transferred out 1,500 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> (~$94.94M) to exchanges: <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"> 100 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> to <a href="https://twitter.com/hashtag/Kraken?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Kraken</a> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"> 100 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> to <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Coinbase</a> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"> 200 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> to <a href="https://twitter.com/hashtag/Bitstamp?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitstamp</a> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"> 1,100 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> to wallet 139Po. They still hodls 44,692 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> ~ $2.8B. Address:<a href="https://t.co/OeIxrye28N" target="_blank" rel="noopener noreferrer nofollow">https://t.co/OeIxrye28N</a> <a href="https://t.co/YqGYE8y5J4" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/YqGYE8y5J4</a>— The Data Nerd (@OnchainDataNerd) <a href="https://twitter.com/OnchainDataNerd/status/1807703930450989065?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 1, 2024</a>
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As alluded to, this follows a previous sale of over 1,700 BTC by the government, valued at $110 million. Despite the significan…
The post <a href="https://coinedition.com/german-government-sells-400-bitcoins-crypto-community-questions-timing-and-strategy/" rel="noopener noreferrer nofollow">German Government Sells 400 Bitcoins, Crypto Community Questions Timing and Strategy</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

German Government Sells 400 Bitcoins, Crypto Community Questions Timing and Strategy

Coin Edition

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