Cryptocurrency

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 Cryptocurrency wallet addresses associated with the German federal government conducted significant Bitcoin transfers on Wednesday morning, June 26, indicating a potential intention to sell digital assets.&nbsp;
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According to<a style="color: #0000ff;" href="https://platform.arkhamintelligence.com/explorer/entity/germany" rel="noopener noreferrer nofollow"> precise data</a> from Arkham Intelligence, a trusted on-chain analytics platform, the federal authorities executed a total of 1,095.338 BTC, valued at approximately $67,241,765.9 million at the time of the transactions. The transfers were made via two prominent crypto exchanges, Bitstamp and Kraken.
The German Federal Criminal Office (BKA) transferred 125 BTC (equivalent to approximately $7.7 million) to each exchange around 7:52 a.m. UTC, as revealed by the on-chain analytics platform. Additionally, the federal authority sent an additional 500 BTC (worth $30.9 million) to an anonymous address labelled “139Po.” Although the identity of this wallet remains unknown, it could belong to a crypto exchange.
Furthermore, the German government conducted various other transactions involving Bitcoin, demonstrating a high level of transparency. They initiated a test transaction of 0.001 BTC (around $63.31) to a market maker, Flow Traders, before proceeding with two transfers of 345.338 BTC (equivalent to $21.23 million) each. Notably, the government also received 345.338 BTC into its portfolio during the same timeframe.&nbsp;
LookonChain, another leading on-chain analytics provider, also<a style="color: #0000ff;" href="https://x.com/lookonchain/status/1805880325970837708" rel="noopener noreferrer nofollow"> confirmed</a> these substantial transactions conducted by the German government in a detailed post. According to their announcement, the nation’s authorities presently hold approximately 45,609 BTC, valued at $2.81 billion.
It is worth noting that the wallet address associated with the German government began moving BTC to crypto exchanges after seizing 50,000 BTC from the film-piracy website Movie2k earlier this year. In January, the authorities transferred 400 BTC (equivalent to $24.3 million) to notable centralized exchanges like Coinbase and Kraken, along with 500 BTC (worth $30.4 million) to the “139Po” wallet address.
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The post <a href="https://defi-planet.com/2024/06/german-federal-government-transfers-over-67-million-worth-of-bitcoin-raising-speculation-of-asset-sell-off/" rel="noopener noreferrer nofollow">German Federal Government Transfers Over $67 Million Worth of Bitcoin, Raising Speculation of Asset Sell-Off</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

German Federal Government Transfers Over $67 Million Worth of Bitcoin, Raising Speculation of Asset Sell-Off

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