The German government bitcoin holdings is zero, with significant inflows into U.S. spot bitcoin ETFs and aggressive whale purchases.
Author: Tanishq Bodh
The German government has sold all its bitcoin holdings, according to data from crypto intelligence firm Arkham. “The German government is now out of bitcoin,” the firm wrote. This divestment began in June, with funds transferred to exchanges and institutional services.
The German government transferred the last batch of 3,846.05 BTC, valued at $223.81 million, to Flow Traders and 139Po, likely for institutional deposit or OTC services, according to Arkham. The crypto intelligence firm posted this information on social media platform X on Friday, confirming:
Arkham detailed:
The German government just sent 3846.05 BTC ($223.81M) to Flow Traders and 139Po (likely institutional deposit/OTC service). The German government has 0 BTC ($0.00M) remaining.
This divestment process started at the end of June 2024. The BTC originally stemmed from the operators of Movie2k.to, a now-defunct piracy website. Police-operated wallets have been transferring funds to various exchanges, including Coinbase, Bitstamp, Kraken, and Cumberland, as well as Flow Traders and an unknown address. Coinbase Institutional said that the German government’s Bundeskriminalamt (BKA) began selling seized bitcoin in mid-June, creating supply overhangs that unsettled the market.
These German bitcoin transfers have coincided with inflows into U.S. spot bitcoin exchange-traded funds (ETFs) over the recent four trading sessions, during which U.S. spot bitcoin ETFs absorbed approximately $801 million in BTC. Additionally, a report from cryptoquant.com indicates aggressive purchasing by whales, who are taking advantage of lower prices. According to the report, these large holders have been acquiring BTC at the fastest rate since April 2023.
Our Crypto Talk is committed to unbiased, transparent, and true reporting to the best of our knowledge. This news article aims to provide accurate information in a timely manner. However, we advise the readers to verify facts independently and consult a professional before making any decisions based on the content since our sources could be wrong too. Check our Terms and conditions for more info.
Ledger Probes User Fund Losses Tied to Reseller CryptoBilis
Why Provenance Blockchain (HASH) Is Up 39.6% Today?
Halborn Clears XMAQUINA RCM Audit With Zero Critical Bugs
Fidelity Scoops $354M Bitcoin, ETH & SOL in 20 Days
Ledger Probes User Fund Losses Tied to Reseller CryptoBilis
Why Provenance Blockchain (HASH) Is Up 39.6% Today?
Halborn Clears XMAQUINA RCM Audit With Zero Critical Bugs
Fidelity Scoops $354M Bitcoin, ETH & SOL in 20 Days
