Ethereum

Cryptocurrency

2024

Bitcoin

Spot

<p>In a significant development highlighted by <a href="https://spotonchain.ai/en" target="_blank" rel="noopener">Spotonchain</a>, the analytic frontrunners in on-chain activity, there has been a substantial movement of digital assets by the German and US governments.&nbsp;</p> 
<p>This activity marks a pivotal moment in how national entities interact with cryptocurrency, reflecting a growing trend of governmental engagement with the digital asset space.</p> 
<p>According to the latest reports, the German government recently transferred a notable amount of <a href="https://blockchainreporter.net/price-prediction/bitcoin-price-prediction/">Bitcoin</a>, amounting to 1,500 BTC, valued at approximately $94.7 million.&nbsp;</p> 
<p>This transfer included 400 BTC sent to prominent exchanges such as Bitstamp, Kraken, and Coinbase, indicating a potential liquidation or strategic redistribution of assets. Despite this movement, the German government still holds a significant cache of Bitcoin, with their total holdings valued at roughly $2.81 billion.</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="500" data-dnt="true">
   <p lang="en" dir="ltr">In the past hour, the German and US governments moved $106M worth of <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BTC</a> and <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$ETH</a> to CEX and new wallets, including:<br><br>1. The German Government moved out 1,500 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BTC</a> ($94.7M), of which 400 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BTC</a> ($25.3M) went to <a href="https://twitter.com/hashtag/Bitstamp?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitstamp</a>, <a href="https://twitter.com/hashtag/Kraken?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Kraken</a> &amp; <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Coinbase</a>.<br>• Currently, they hold 44,692 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BTC</a>… <a href="https://t.co/XwVJwTVsU5" target="_blank">pic.twitter.com/XwVJwTVsU5</a></p>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1807705194337333278?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">July 1, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="global-governments-and-cryptocurrency-management">Global Governments and Cryptocurrency Management</h2> 
<p>Simultaneously, the US government was also active, moving 3,375 ETH worth around $11.75 million to a newly created wallet labeled “0x5ac”. This move forms part of a broader pattern of governmental bodies becoming more actively involved in managing and reallocating cryptocurrency assets.&nbsp;</p> 
<p>After the transfer, the US government’s Ethereum holdings are recorded at 49,320 ETH, valued at approximately $172 million.</p> 
<p>This series of transactions underscores the increased attention and structured approach that governments are adopting towards cryptocurrencies. Such actions are not just mere asset management practices but also signal a deeper understanding and integration of cryptocurrency into traditional financial systems.&nbsp;</p> 
<p>By transferring significant amounts of BTC and ETH, these governments are not only adjusting their asset bases but are also potentially influencing market dynamics.</p>

Revealed: Germany and US Governments Move Over $100M in Bitcoin and Ethereum – What’s the Strategy?

Table of Contents

BlockchainReporter

Muita 1. heinäk. 2024 julkaistuja artikkeleja

Premier Crypto Ventures in 2024: The $1.64M Upside of a $1000 Investment in BlockDAG; Insights on...

Bitcoin Shows July Recovery Potential

Crypto Market on the Brink of Explosion: Is $10 Trillion Cap Potential Imminent?

June Crypto Report: Hacks, Scams Drain Nearly $200 Million!

Crypto Analysts Discuss Top Altcoins For DePin Supercycle

Binance Updates Its Watch Tag List for Altcoins

Join our free newsletter for daily crypto updates!