Quick Take
The German government has recently offloaded a significant amount of Bitcoin, according to data reported by Lookonchain and sourced from Arkham Intelligence. The data indicates that the government transferred 750 BTC, valued at approximately $46.35 million. Out of this, 250 BTC (worth $15.41 million) were sent to the exchanges Bitstamp and Kraken.
Additionally, Lookonchain noted a minor transaction of 0.001 BTC to Flow Traders, which is likely a test transaction. This suggests that the German government may be preparing to sell Bitcoin through Flow Traders, further indicating their active management and disposition strategy regarding their Bitcoin reserves.
Glassnode data shows that the German government holds a substantial amount of Bitcoin, totaling 45,609 BTC, valued at around $2.8 billion. This significant holding illustrates Germany’s substantial involvement in the digital assets market.
According to Bitcointreasuries, governments worldwide hold approximately 565,000 BTC. Germany is now the fifth-largest government holder, falling below Ukraine, which holds around 46,351 BTC.
| Government | Total |
|---|---|
| United States | 213,246 BTC |
| China | 190,000 BTC |
| United Kingdom | 61,000 BTC |
| Ukraine (various) | 46,351 BTC |
| Germany | 45,601 BTC |
| El Salvador | 5,779 BTC |
| Bhutan | 621 BTC |
| Venezuela | 240 BTC |
| Finland | 90 BTC |
| Georgia | 66 BTC |
Source: bitcointreasuries.net
The post Germany drops to fifth in global government Bitcoin holdings after further 750 BTC sell-off appeared first on CryptoSlate.
