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<p>It appears the German government’s ultimate goal for its <a href="https://bitcoinist.com/santa-monica-launches-bitcoin-educational-office/" target="_blank" rel="noopener ">Bitcoin</a> holdings is total liquidation as the authorities have continued its massive BC sell-offs, bringing its overall reserve below 5,000 BTC. These large-scale transactions are part of the government’s robust endeavor to dump the BTC that was originally seized in conjunction with multiple criminal investigations, especially Movie2k.</p> 
<h2 id="over-90-of-bitcoin-sold-from-the-german-government-s-holdings">Over 90% Of Bitcoin Sold From The German Government’s Holdings</h2> 
<p>In a recent wave of transactions <a href="https://x.com/ArkhamIntel/status/1811437599682183217" target="_blank" rel="noopener nofollow">cited</a> by popular intelligence platform Arkham, the German government has carried out another massive Bitcoin sell-off, causing larger speculation about the strategy. Data from the platform shows that the authorities moved over 5,000 BTC, valued at $286 million, to Flow Traders, Coinbase, Kraken, and Bitstamp, and the wallet addresses 139Po and bc1qu.</p> 
<p>It is worth noting that 4 hours prior to these transactions, the government executed a series of transfers to the address 139Po (either an institutional deposit or over-the-counter service), Cumberland, Coinbase, Bitstamp, and Kraken. Arkham revealed a staggering 3,250 BTC, worth $191 million was transferred to the cryptocurrency exchanges.</p> 
<p>On Thursday, the overall amount of Bitcoin reported by the platform to have been sold by the authorities to marker makers and crypto exchanges was approximately 10,627 <a href="https://bitcoinist.com/bitcoin-is-ready-to-fly-heres-why/" target="_blank" rel="noopener ">BTC</a> worth $615 million. As a result, the government reserves now hold about 4,925 BTC, which is just 9.9% of the total Bitcoin that was originally seized from the operator of Movie2k.</p> 
<p>These actions from the government ignited a lot of discussion within the crypto space, with several top figures blasting the nation for its ongoing BTC liquidation strategy. Earlier this week, Vivek Sen, a reporter at the Bitcoin Magazine and founder of Bitgrow Lab <a href="https://x.com/Vivek4real_/status/1810660917941592235" target="_blank" rel="noopener nofollow">criticized</a> the authorities calling them idiots.</p> 
<p>According to the reporter, BTC stands to be the world’s hardest money, and the state is constantly selling it for a currency that can be manufactured out of thin air. Vivek displeased with the actions went as far as to call the <a href="https://bitcoinist.com/german-mp-strongly-opposes-governments-bitcoin-sale/" target="_blank" rel="noopener ">German government</a> officials literal idiots.</p> 
<h2 id="btc-spot-etfs-sees-a-5-day-consecutive-inflows">BTC Spot ETFs Sees A 5-Day Consecutive Inflows</h2> 
<p>Although the German government has been selling BTC at a large scale, thereby triggering price declines, the US Bitcoin Spot Exchange-Traded Funds (ETFs) have attracted significant inflows lately, recording 5-day straight profits.&nbsp;</p> 
<p>On Thursday, analytics platform Sosovalue <a href="https://sosovalue.xyz/assets/etf/us-btc-spot" target="_blank" rel="noopener nofollow">reported</a> that the US spot BTC ETFs witnessed a daily inflow of $78 million, marking their fifth consecutive inflow.&nbsp;Data from Sosovalue shows that BlackRock ETF IBIT and Fidelity ETF FBTC recorded a daily inflow of $72 million and $32 million respectively. Meanwhile, the Grayscale ETF GBTC saw another day of outflows, amassing approximately $37 million loss.</p> 
<p>With this Thursday’s gains, the net inflow of the <a href="https://bitcoinist.com/bitcoin-spot-etfs-witnes-month-high-inflow-downturn/" target="_blank" rel="noopener ">BTC spot ETFs</a> from the initial inception day, January 11, until the present now totals $15.5 billion, indicating the growing adoption and interest of the products.</p> 
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Germany Executes 5,000 Bitcoin Sale: Government Reserves Nears Complete Liquidation

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Bitcoinist

Інші статті, опубліковані 12 лип. 2024 р.

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