German Government Resumes Bitcoin Sales, Sparking Market Volatility Concerns

The German government resumed selling its Bitcoin holdings on July 12, following the return of some previously transferred BTC to its Bitcoin wallet. Arkham blockchain data indicates that the German government executed multiple transactions, transferring a total of 3,200 Bitcoin across various platforms. Bitstamp, Kraken, and Coinbase each received 400 BTC, while two unknown addresses received 1,000 BTC and 500 BTC respectively. Crypto analyst Michaël van de Poppe speculated on X that the remaining Bitcoin, worth approximately $300 million, would likely be sold on July 12. Historically, large sales by government entities can lead to increased market volatility. However, the

Source: CryptoIntelligence