Germany Transfers Another $17.6M Worth of Bitcoin to Major Exchanges, Hinting at Potential Sell-Off

By Guntakin Mehnatli
July 2, 2024

German authorities have transferred 282.74 BTC ($17.6 million) to Coinbase, Bitstamp, and Kraken, raising speculation about a potential sell-off. The transfers were detected by Arkham and follow recent Bitcoin movements by the German government, which has a $3 billion Bitcoin stockpile seized from the piracy website Movie2k.to. Recent transactions include 100 BTC to Coinbase, 150 BTC to Bitstamp, and 32.74 BTC to Kraken. Currently, Germany holds approximately 43,859 BTC, valued at around $2.7 billion. Bitcoin’s price remains flat at $62,739.

Germany buys Bitcoin Major Exchanges

About Author / Guntakin Mehnatli

Starting her career as a Political Journalist in 2020, Guntakin Mehnatli has dedicated the past four years to becoming an expert in finance and political news reporting. She also maintains a keen focus on trending topics in artificial intelligence, technology, startups, business and related areas.