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<ul class="news-points">
 <li>The German Government reclaims $305 million in Bitcoin from major exchanges.</li>
 <li>Authorities’ Bitcoin wallet now holds 22,846 BTC valued at $1.32 billion.</li>
 <li>They have dumped 22,763 Bitcoin, estimated at around $1.31 billion since June.</li>
</ul>
In a surprising reversal of sorts, the German government is buying back hundreds of millions of dollars worth of Bitcoin just a day <a href="https://coinedition.com/crypto-shock-germany-liquidates-880-million-in-bitcoin-in-a-single-day/" rel="noopener noreferrer nofollow">after dumping nearly</a> $1 billion of the cryptocurrency. This unexpected move has sparked speculation and renewed interest in the government’s cryptocurrency strategy.
<a href="https://platform.arkhamintelligence.com/explorer/entity/germany" target="_blank" rel="noopener noreferrer nofollow">Data</a> from Arkham Intelligence shows that the authorities’ Bitcoin wallet repossessed 1,692 BTC tokens in three transactions from the Bitstamp exchange just two hours ago.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXdtzxPAn6HEQi2qDDzTszZP2PwU56ZpaiNxwJHK3V2SbhDDKcPQyI2NOATbw2NiwE3cfHL66BiPtHxdPr6QpOXE8dXtYjtYmoQPg-GNHE6FvFLue8ktSILwbi4ICT3JIhPOto81zpyQw8gPHtwboJSjeHak?key=-Z5188K2yp3nwyhPNxfbFg" alt="">
</figure>
The reclaimed Bitcoin was valued at $96.83 million at the time of the transaction, bringing the government’s Bitcoin holdings to 26,053 tokens worth $1.5 billion at the time. This wasn’t their only Bitcoin buyback in the last 24 hours.
Specifically, the German Government reclaimed at least 1,943 Bitcoins worth $110.75 million from Kraken, 300 BTC from Coinbase, and 1,250 BTC from Bitstamp earlier. Cumulatively, authorities have reacquired 5,365 BTC tokens value…
The post <a href="https://coinedition.com/germanys-bitcoin-whirlwind-1b-dump-followed-by-305-million-buyback/" rel="noopener noreferrer nofollow">Germany’s Bitcoin Whirlwind: $1B Dump Followed by $305 Million Buyback</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Germany’s Bitcoin Whirlwind: $1B Dump Followed by $305 Million Buyback

Coin Edition

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