Bitcoin Bombshell: German Government Strikes Again with Massive BTC Dump

• The German government moved to sell another 1,000 BTC worth $55.8M.
• This latest sale reduces their Bitcoin holdings to 38,826 BTC, valued at around $2.17, from 45K BTC last month.
• The latest sale comes amid the value of Bitcoin crashing to $55K today.

The German government has just orchestrated another massive Bitcoin sale, liquidating 1,000 BTC tokens worth approximately $55.8 million in transactions that took place within the past hour.

Crypto surveillance account Lookonchain called attention to the development in a post on X, citing data from the intelligence platform Arkham. The data indicates that the German government offloaded the transferred Bitcoin via popular cryptocurrency exchanges Coinbase, Bitstamp, and an over-the-counter (OTC) entity.

The #German government transferred 1,000 $BTC($55.8M) out again 15 minutes ago, of which 500 $BTC($27.9M) was deposited to #Coinbase and #Bitstamp.

The #German government currently holds 38,826 $BTC($2.17B).https://t.co/h2JlBVFPsL pic.twitter.com/NS5pkMixrj

— Lookonchain (@lookonchain) July 8, 2024

This latest sale brings the German government’s Bitcoin holdings down to 38,826 BTC, currently valued at appro…

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