Is a New FUD Born? German Government Moves Bitcoin Again – Exciting Developments
There has been a stir in the market as reports emerged that the German government has transferred some of its Bitcoin holdings to cryptocurrency exchanges.
Data from the cryptocurrency analysis company Arkham reveals ongoing activity with the Bitcoins held by the German government. Germany has reportedly sold over $195 million worth of Bitcoin to date.
Recent data indicates that the German government has transferred $65 million in the last two hours to two groups suspected to be associated with exchanges, including Coinbase. Just yesterday, Germany moved a staggering $600 million worth of BTC, with $130 million sent to four different cryptocurrency exchanges, such as Kraken and Bitstamp.
As of now, Germany still holds around $3.05 billion worth of BTC. It remains unclear whether the remaining amount will be moved to other exchanges and what impact this may have on Bitcoin’s value.
In a previous case, German police seized approximately 50,000 BTC, valued at over $2 billion at the time, from the operators of Movie2k.to, a pirated movie site that was active in 2013. The Bitcoins were transferred to the police in mid-January following a “voluntary transfer” from the suspects.
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