Germany Dumps Bitcoin From Its $3 Billion Stockpile

Krutika Adani

Sold $195 Million So Far

Till 20th June, Arkham Intelligence discovered that a wallet belonging to the German government sold $195 million worth of Bitcoins.

Another $600 Million  Worth BTC Moved

The wallet had moved another $600 million, possibly earmarked for sales in the open market.

Impact on BTC Price

Due to the high volume of sales in a sideways market, Bitcoin prices have failed to recover. The price is expected to remain at $63k or lower for the near term.

$3 Billion Stash

The wallet belonging to the German government contained $3 billion worth of Bitcoins, which Arkham Intelligence last identified on June 20th.

Where Did Germany Get $3 Billion Worth of Bitcoins?

Almost all of the 50k Bitcoins in the wallet were confiscated from the owners of Movies2k.to