German Government

The German Government Lost Its “Bitcoin Billionaire” Status Today

(Wed 10 July 2024, 12:23 PM GMT):

In the cryptocurrency market today, the German government has been on a major selling mode. According to Arkham Intelligence, the government has sent another 2,000 BTC, worth approximately $117.3 million, to major exchanges like Coinbase, Kraken, and 139Po in the past hour.

As of now, the German government holds 13,110 BTC, valued at around $766.52 million, Which marks that the German Government lost its “Bitcoin Billionaire” status today . This is 26.8% of the total Bitcoin originally seized from Movie2k, marking a notable reduction in their holdings.

Source: Arkham

The government’s decision to sell such a large amount of Bitcoin has led to a flurry of transactions in the past 24 hours. Despite this, Bitcoin has shown resilience. The price of Bitcoin has surged over $58,000, currently trading at $58,473, up by 1.74% in the last 24 hours.

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