The German Government Sells 175 Billion Worth of Bitcoin

According to blockchain intelligence company Arkham’s on-chain data, the German government transferred 1,300 BTC ($76 million) to Kraken, Bitstamp, and Coinbase on July 4th. They also transferred 1,700 BTC ($99 million) to the 139Po address, which may be for institutional services or OTC trading. Currently, the German government still holds over 40,000 BTC, worth more than $2.3 billion. Previously, Bitpush reported that Tron founder Justin Sun proposed to buy the remaining BTC from the German government through an OTC purchase to reduce the impact on the cryptocurrency market.