The German government is nearing the end of its Bitcoin reserves after a recent transfer. Today, they moved 2,700 Bitcoins worth $154.6 million, according to Lookonchain.
German Govt Holds 6,394 Bitcoins Worth 5.86M
Currently, the German government holds 6,394 Bitcoins. The value of these Bitcoins is $365.86 million. In the last 24 hours, they transferred 10,627 Bitcoins worth $615.3 million out of their wallet. On the other hand, they received back 4,169 Bitcoins worth $239.6 million.
Yesterday, they sold 6,458 Bitcoins worth $375.7 million and having behind 9,094 Bitcoins worth $522.29 million as per Lookonchain. On 7th of July, the German government transferred another 5,103 Bitcoins, worth an estimated $300 million. This was a noteworthy change in their Bitcoin stake.
German Govt Trades 0M Bitcoin in Early July
Overall, the German government was most active in trading Bitcoin in the first week of July. They exchanged, almost, $500 million. They cashed out 11,410 Bitcoins with an average value of $58,002 per Bitcoin and a total value of $662 million. At the same time, they bought 2,810 Bitcoins for $162 million at an average price of $57,541 for one Bitcoin.
Since the mid of this year, the German government has been a very active promoter of Bitcoin. Such large transfers have resulted in the drop in the market. Consequently, through the recent sales, the German government’s Bitcoin assets are nearly depleted.
