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 $365.86M
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 $500M 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.
