A New FUD Emerging: The German Government Moves Bitcoin Again! Tense Moments Unfolding
The news that a portion of the Bitcoin held by the German government has been transferred to exchanges has sparked debate in the market.
According to data released by the cryptocurrency analysis firm Arkham, there is ongoing activity involving the Bitcoin held by the German government. The data indicates that Germany has sold over $195 million worth of Bitcoin so far. The latest figures show that the German government sent $65 million in Bitcoin to two different entities suspected of being exchange-related, including Coinbase, in the past two hours.
Yesterday, Germany moved $600 million worth of BTC, transferring $130 million of it to four different cryptocurrency exchanges, including Kraken and Bitstamp. Currently, data suggests that Germany holds approximately $3.05 billion worth of BTC. It is unknown whether the remaining amount will also be transferred to cryptocurrency exchanges and what impact this might have on Bitcoin.
In 2013, German police seized around 50,000 BTC, which was worth over $2 billion at that time, from the operators of a pirate movie site called Movie2k.to. According to Arkham, the police received the Bitcoins in mid-January following the “voluntary transfer” by the suspects.
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