The German government has continued its Bitcoin selloff, transferring another 595 BTC to major cryptocurrency exchanges. This move is part of a series of recent sell-offs from an address associated with the German authorities.
In total, over 2,000 BTC have been sold from this address in the past few days, occurring amid current market tensions. The persistent nature of these sales suggests that the German government may not be finished liquidating its Bitcoin holdings.
German Government’s Bitcoin Selloff Continues
PeckShield, a blockchain security company, reported that the address marked as “German Government” moved 750 BTC (valued at approximately $46 million) in a recent transaction. The bulk of this transfer, 595 BTC worth about $36.5 million, was distributed among major exchanges.
Bitstamp and Kraken each received 125 BTC, while Flow Traders, a global trading firm, received the largest portion of 345 BTC. Kraken appears to be a preferred exchange for these transfers, as it
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