Bitcoin

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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/german-government-sells-seized-bitcoin" data-wpel-link="internal">German Government Sells Seized Bitcoin</a><br></p>
<p style="text-align: justify">The German government has been actively liquidating the 50,000 Bitcoins (BTC) it confiscated from the online piracy platform Movie2K in January. Recent <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener nofollow" data-wpel-link="exclude">data</a> from Arkham Intelligence highlights that the government moved 2,700 BTC to various destinations, including centralized exchanges, B2C2 Group, and wallets linked to an over-the-counter (OTC) service address.</p> 
<h2 id="german-government-resumes-bitcoin-transfers">German Government Resumes Bitcoin Transfers</h2> 
<p style="text-align: justify">At around 10:00 AM CET today, the German government transferred 500 BTC, valued at approximately $28.63 million, to an OTC service wallet. Shortly thereafter, it sent 400 BTC each to major exchanges like Coinbase, Kraken, and Bitstamp. Additionally, 1,000 BTC were directed to a wallet associated with B2C2 Group, as reported by Arkham.</p> 
<p style="text-align: justify">In the past 12 hours, the government also retrieved 4,169 BTC from these exchanges. Bitstamp returned around 994 BTC worth $57.12 million at 10:31 PM CET, followed by another 574 BTC later in the night. Further transfers brought the total returned <a href="https://en.bitcoinhaber.net/analyst-sees-bitcoin-investor-dropping" data-wpel-link="internal">Bitcoin</a> to over 1,627 BTC.</p> 
<h2 id="how-much-btc-does-the-german-government-have-left">How Much BTC Does the German Government Have Left?</h2> 
<p style="text-align: justify">Kraken returned 597.6 BTC around the same time as Bitstamp’s initial transfer, and another 363.5 BTC later. Coinbase contributed by returning 311.8 BTC at 10:32 PM CET and an additional 451 BTC at 9:12 PM CET. These returns are likely due to regulatory constraints on selling the cryptocurrency, necessitating their return to the government.</p> 
<h2 id="valuable-inferences">Valuable Inferences</h2> 
<ul> 
 <li>Government actions indicate a preference for liquidating digital assets via multiple exchanges and OTC services.</li> 
 <li>Frequent returns of BTC suggest regulatory hurdles in selling large amounts on centralized platforms.</li> 
 <li>Monitoring government transactions can provide insights into <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">market</a> movements and potential BTC price impacts.</li> 
 <li>The pace of BTC liquidation by the German government suggests a rapid depletion of their holdings within a week if current trends persist.</li> 
</ul> 
<p style="text-align: justify">Currently, the German government retains 6,384 BTC, valued at approximately $364.59 million. Experts believe that if the selling spree continues at the current rate, the German government may exhaust its BTC reserves within a week.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/german-government-sells-seized-bitcoin" data-wpel-link="internal">German Government Sells Seized Bitcoin</a></h5>

German Government Sells Seized Bitcoin

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Alte articole publicate pe 12 iul. 2024

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