The German government has reportedly moved a significant amount of Bitcoin from its holdings, raising questions about its investment strategy and potentially adding to recent downward pressure on the cryptocurrency’s price.
On-chain analytics platform Lookonchain revealed that 3,000 BTC, valued at $174 million, were transferred, with a significant portion distributed among major crypto exchanges Bitstamp, Coinbase, and Kraken. The latest transfer leaves the government with 40,359 Bitcoins, equivalent to $2.33 billion in its holdings.
Lookonchain’s latest report detailed the series of Bitcoin transfers linked to the German governm…
The post Bitcoin Price Plunge: German Government’s BTC Sell-Off Adds to Market Woes appeared first on Coin Edition.
The German government has reportedly moved a significant amount of Bitcoin from its holdings, raising questions about its investment strategy and potentially adding to recent downward pressure on the cryptocurrency’s price.
On-chain analytics platform Lookonchain revealed that 3,000 BTC, valued at $174 million, were transferred, with a significant portion distributed among major crypto exchanges Bitstamp, Coinbase, and Kraken. The latest transfer leaves the government with 40,359 Bitcoins, equivalent to $2.33 billion in its holdings.
Lookonchain’s latest report detailed the series of Bitcoin transfers linked to the German governm…
The post Bitcoin Price Plunge: German Government’s BTC Sell-Off Adds to Market Woes appeared first on Coin Edition.