German Government Bitcoin Wallet Plummets to 9,094 BTC Amid Major Sell-Off

The German government’s Bitcoin wallet has decreased to 9,094 Bitcoin, only 18% of its original amount, following a series of transfers to crypto exchanges on July 11. The wallet, holding Bitcoin seized from a film pirating website crackdown in January, has been actively transferring out billions in Bitcoin since June 19, with increased activity starting in July. On July 11, the wallet’s balance dipped below 5,000 BTC after sending 10,620 BTC, valued at approximately $615 million, to cryptocurrency trading platforms such as Coinbase, Bitstamp, Kraken, Flow Traders, and two anonymous addresses, according to blockchain intelligence firm Arkham. However, some of

Source: CryptoIntelligence