Flow

2024

Bitcoin

Million

<ul class="news-points">
 <li>Germany’s government has purchased 1,915 BTC worth $111.5 million, reversing recent sales.</li>
 <li>This buyback follows large-scale Bitcoin sales that had stirred market volatility.</li>
 <li>Justin Sun, founder of Tron, proposed negotiating with the government to minimize market impact.</li>
</ul>
In a surprising reversal, the German government, known for the recent large-scale Bitcoin sell-offs, has just bought back a significant amount of the BTC. Data from Arkham Intelligence reveals a purchase of 1,915 BTC, worth $111.5 million, from major exchanges Kraken, Bitstamp, and Coinbase.
This move comes after weeks of high-profile Bitcoin sales by the German government, which had <a href="https://coinedition.com/bitcoin-fear-greed-index-why-mt-gox-and-government-sales-are-spooking-investors/" rel="noopener noreferrer nofollow">sparked market volatility</a> and raised questions about their crypto strategy. The sudden buyback has ignited speculation and renewed optimism among Bitcoin investors worldwide.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Update: German Government BTC Movements German Government wallets received 1915 BTC ($111.5M) last night back from addresses linked to Kraken, Bitstamp and Coinbase. 1047.4 BTC ($57.2M) has been moved out of their wallets this morning: -547.4 BTC ($30.1M) to Flow Traders -500… <a href="https://t.co/e6ARrAh4Td" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/e6ARrAh4Td</a>— Arkham (@ArkhamIntel) <a href="https://twitter.com/ArkhamIntel/status/1809194916842512894?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 5, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure> … 
The post <a href="https://coinedition.com/germanys-surprise-111-million-bitcoin-buyback/" rel="noopener noreferrer nofollow">Germany’s Surprise $111 Million Bitcoin Buyback</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Germany’s Surprise $111 Million Bitcoin Buyback

Coin Edition

Other articles published on Jul 6, 2024

Venezuelans and Argentinians rely heavily on crypto amid economic crisis

Bitcoin Set to Plunge to $50,000, Experts Warn of Further Decline

ApeBond Announces Expansion to Base: Launching Bonds On-Chain

Spot Bitcoin ETFs Saw $143 Million Inflows on Friday, Institutions Buying The Dips?

Bitcoin: Derivatives Data Rekindles Hope

Taiwan Mobile Enters Crypto Market as VASP Member

Join our free newsletter for daily crypto updates!