Greed

Reserve

Bitcoin

Arkham

The German government has sold all its Bitcoin holdings with its wallet now showing a $1.85 balance as confirmed by Arkham Intelligence.
This last transaction involved 3,094 BTC (approximately $176 million) transferred to an unknown address starting with “139Po”
<figure class="wp-block-image size-large"><img fetchpriority="high" decoding="async" width="1024" height="632" src="https://www.cryptotimes.io/wp-content/uploads/2024/07/German-Government-1024x632.png" alt="German Government" class="wp-image-189873" srcset="https://www.cryptotimes.io/wp-content/uploads/2024/07/German-Government-1024x632.png 1024w, https://www.cryptotimes.io/wp-content/uploads/2024/07/German-Government-800x494.png 800w, https://www.cryptotimes.io/wp-content/uploads/2024/07/German-Government-768x474.png 768w, https://www.cryptotimes.io/wp-content/uploads/2024/07/German-Government-860x531.png 860w, https://www.cryptotimes.io/wp-content/uploads/2024/07/German-Government.png 1269w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 Image Source: <a href="https://platform.arkhamintelligence.com/explorer/entity/germany" target="_blank" rel="noopener noreferrer nofollow">Arkham Intelligence</a>
 </figcaption>
</figure>
On July 12, the government <a href="https://platform.arkhamintelligence.com/explorer/entity/germany" target="_blank" rel="noopener noreferrer nofollow">sent</a> 2,700 BTC (worth $153 million) to platforms like Coinbase, Bitstamp, Kraken, and the same unknown address and two other addresses “guzr4j” and “bc1qu.”
These Bitcoins originated from a seizure linked to a film piracy website in January. Since mid-June, the government has been gradually liquidating its holdings of 50,000 BTC, accelerating sales in early July.
The decision to divest all Bitcoin holdings has drawn criticism from Joana Cotar, a German lawmaker and Bitcoin advocate, who <a href="https://www.cryptotimes.io/2024/07/05/joana-cotar-urges-german-government-to-halt-bitcoin-sales/" rel="noopener noreferrer nofollow">argued</a> that the cryptocurrency could have been retained as a strategic reserve against traditional financial risks.
This significant sell-off, coupled with concerns over potential Bitcoin releases by Mt. Gox to its creditors, has contributed to market instability. The Crypto Fear &amp; Greed Index has entered the “Extreme Fear” zone, with Bitcoin currently trading at $57,596, reflecting a 0.44% decline in the last 24 hours according to <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap.</a>
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also Read: <a href="https://www.cryptotimes.io/2024/07/04/justin-sun-offers-to-purchase-germanys-2-3b-bitcoin-reserve/" rel="noopener noreferrer nofollow">Justin Sun Offers to Purchase Germany’s $2.3B Bitcoin Reserve</a>
</blockquote>

German Government Sells Off All Bitcoin: Wallet Emptied to $1

The Crypto Times

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