Bitcoin

<p>The German government is nearing the end of its <a href="https://blockchainreporter.net/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin</a> reserves after a recent transfer. Today, they moved 2,700 Bitcoins worth $154.6 million, according to Lookonchain.</p><h2 id="header-0">German Govt Holds 6,394 Bitcoins Worth $365.86M</h2><p>Currently, the German government holds 6,394 Bitcoins. The value of these Bitcoins is $365.86 million. In the last 24 hours, they transferred 10,627 Bitcoins worth $615.3 million out of their wallet. On the other hand, they received back 4,169 Bitcoins worth $239.6 million.</p><p>Yesterday, they <a href="https://blockchainreporter.net/german-government-not-ready-to-stop-selling-bitcoin-transfers-300m-more-in-btc/" rel="noopener noreferrer nofollow">sold</a> 6,458 Bitcoins worth $375.7 million and having behind 9,094 Bitcoins worth $522.29 million as per <a href="https://www.lookonchain.com/" rel="noopener noreferrer nofollow">Lookonchain</a>. On 7th of July, the German government transferred another 5,103 Bitcoins, worth an estimated $300 million. This was a noteworthy change in their Bitcoin stake.</p><h2 id="header-1">German Govt Trades $500M Bitcoin in Early July</h2><p>Overall, the German government was most active in trading Bitcoin in the first week of July. They exchanged, almost, $500 million. They cashed out 11,410 Bitcoins with an average value of $58,002 per Bitcoin and a total value of $662 million. At the same time, they bought 2,810 Bitcoins for $162 million at an average price of $57,541 for one Bitcoin.</p><p>Since the mid of this year, the German government has been a very active promoter of Bitcoin. Such large transfers have resulted in the drop in the market. Consequently, through the recent sales, the German government’s Bitcoin assets are nearly depleted.</p>

German Government Nears Bitcoin Holdings Depletion after Latest Transfer

Table of Contents

BlockchainReporter

Other articles published on Jul 12, 2024

'Pepe's Friend' BRETT Is 'Showing Signs Of Relief' Says Trader

Kraken Executive Says Ethereum ETFs Can Amass $1 Billion Monthly

New Development in Binance and Nigeria Tension! US Congress Members Called for Binance Executive!

Ripple CEO Garlinghouse Reflects on SEC v Ripple Lawsuit Anniversary

Following Coinbase And Stripe Deal, Fiat-To-Crypto Payments Players See Big Future

Will Solana Bulls Win the Combat Against Opposing Bears?

Join our free newsletter for daily crypto updates!