German Government Sells $951M Worth of Bitcoin in a Single Day

The German government has continued its trend of offloading Bitcoin, with the country recently selling 17,000 BTC, worth $951 million, in one day. The latest transaction is the government’s largest single-day liquidation of the leading cryptocurrency, according to blockchain analyst Arkham Intelligence.

Early Monday, the government had sold more than 1,500 BTC within a single hour, worth more than $87 million. Moreover, the government traded another 5,200 BTC within the last several hours, according to Arkham Intelligence. The government still holds more than $1.3 billion worth of Bitcoin.

Also Read: Justin Sun Wants To Buy Germany’s Bitcoin Amidst Ongoing Dip

Germany Continues Selling BTC With Largest Single-Day Liquidations

Over the last several weeks, Bitcoin has struggled. The last 30 days have seen the leading crypto fall more than 18% according to CoinMarketCap. Indeed, the token is currently trading at $56,300; a far cry from the $73,000 all-time high it reached in March of this year.

That fall has coincided with the German government’s continued sale of Bitcoin over the past several weeks. That has continued today. The government sold $951 million worth of BTC in the last 24 hours, proving to be the largest single-day liquidation for the country.

Also Read: German Govt. Moves 1000 Bitcoin Worth $55 Million: Another Slump?

Earlier this year, German police had seized more than 50,000 bitcoins in the state of Saxony. The cryptocurrency led to a value of more than $2.2 billion, with the accumulation being the basis for the massive sell-offs. In June alone, Germany’s Federal Criminal Police Office sold 900 BTC worth more than $52 million.

That continued, with the agency selling more than 3,000 Bitcoin last week. Conversely, the government has been sending the seized cryptocurrency to exchanges like Coinbase, Bitstamp, and Kraken. The selling pressure has led Bitcoin to reach its lowest price level since February of 2024.