German Gov't Progresses With Bitcoin Liquidation Strategy-web3.0-php.cn

German Gov't Progresses With Bitcoin Liquidation Strategy

Jun 26, 2024 pm 03:09 PM

The German government is continuing to actively liquidate portions of its substantial Bitcoin (BTC) holdings, transferring significant sums to various cryptocurrency

German Gov’t Progresses With Bitcoin Liquidation Strategy

German authorities are continuing to sell portions of their substantial Bitcoin (BTC) holdings, with recent transfers amounting to $**24 million, as per data analysis by Arkham Intelligence. These transactions, which involve moving Bitcoin to cryptocurrency exchanges and wallets, are part of a broader strategy that appears to be impacting BTC's current market dynamics. On June 25, three separate transactions saw 900 BTC being moved by the Federal Criminal Police Office (BKA), which operates a government-labeled cryptocurrency wallet. Two of the transactions, each comprising 200 BTC, were sent to major exchanges Coinbase and Kraken. Meanwhile, a larger transfer of 500 BTC was directed to an address tagged as “139Po”, a wallet whose activities and ownership are yet to be fully ascertained, although it has previously interacted with the German government's wallet. “UPDATE: German Government selling additional **$24M BTC. In the past 2 hours the German Government has moved 400 BTC to exchange deposits at Kraken and Coinbase. They have also moved 500 BTC to address 139Po. We have yet to see where these funds are moved,” noted Arkham Intel via X. These transactions are part of a series of Bitcoin sales by the government, which had previously transferred $**130 million BTC on June 19 and **$65 million BTC on June 20. The transactions from June 19 and 20 saw some funds returning from Kraken and smaller amounts from wallets linked to Robinhood, Bitstamp, and Coinbase. Initially, the wallet accumulated nearly 50,000 BTC, seized from the operator of the pirated movie website Movie2k. “This is in addition to $**130M BTC sent to exchanges on 19th June and **$65M BTC sent on 20th June, although they received $**20.1M back from Kraken and **$5.5M from wallets linked to Robinhood, Bitstamp and Coinbase. Currently, the German government holds 46,359 BTC, worth $**2.8B at current prices,” added Arkham. The ongoing sell-off appears to have contributed to recent price pressures on Bitcoin, which has seen a decline of 11.7% over the past month and over 6.2% weekly, currently trading just above **$61,000. According to analysts, the actions of the German government on centralized exchanges (CEXs) are being closely monitored and may be influencing BTC's weak performance. As the market downturn continues, July is expected to bring further attention to the planned sell-off by the defunct crypto exchange Mt. Gox, which will begin repaying its creditors. With over 140,00BTC, valued at $**9.4 billion, set to be distributed among approximately 127,000 creditors, the market could face additional selling pressure, potentially driving prices down further. However, Galaxy Digital’s head of research, Alex Thorn, suggests that the market may be overestimating this selling pressure. At press time, BTC trades at **$61,159.

The above is the detailed content of German Gov't Progresses With Bitcoin Liquidation Strategy. For more information, please follow other related articles on the PHP Chinese website!

Statement

The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn

Who is the best digital currency exchange in the worldApr 22, 2025 am 08:51 AM

There is no "best" digital currency exchange, only the "most suitable" ones because everyone has different needs. 1. Newbies should choose simple and easy-to-understand exchanges, such as Coinbase. 2. Users who focus on security should choose Coinbase or Kraken. 3. Users who pursue rich trading options should choose Binance or Ouyi. 4. Users who like to trade derivatives should choose Bybit or Ouyi. 5. Users interested in new coins should choose Sesame to open the door.

What platform is PumpSwap? Which country is the PumpSwap platform from?Apr 22, 2025 am 08:48 AM

PumpSwap is a decentralized exchange launched by pump.fun, focusing on low-cost, cross-chain interoperability and Meme token trading. 1) Seamless token migration and transaction integration: deeply bound to pump.fun, tokens can be migrated to PumpSwap transactions for free. 2) Low cost and incentive mechanism: Provide zero-cost liquidity pool creation and handling fee sharing. 3) Cross-chain interoperability and multi-chain support: Through cooperation with TRON, SOL/TRX cross-chain transactions are realized, and the plan is to expand to Aptos and other chains. PumpSwap mainly serves the global crypto market and is a typical multinational blockchain project.

What are the digital currency trading apps suitable for beginners? Learn about the coin circle in one articleApr 22, 2025 am 08:45 AM

When choosing a digital currency trading platform suitable for beginners, you need to consider security, ease of use, educational resources and cost transparency: 1. Priority is given to platforms that provide cold storage, two-factor verification and asset insurance; 2. Apps with a simple interface and clear operation are more suitable for beginners; 3. The platform should provide learning tools such as tutorials and market analysis; 4. Pay attention to hidden costs such as transaction fees and cash withdrawal fees.

How to set stop loss in Ouyi Digital Currency App?Apr 22, 2025 am 08:42 AM

There are two ways to set a stop loss in the Ouyi Digital Currency App: 1. Set a stop loss on the trading page: Set a stop loss when opening a position or after opening a position. 2. Set stop loss on the specific position page: Click "Position", select the position, and set the stop loss trigger price and quantity.

Where to look at the ratio of long and short data in the currency circleApr 22, 2025 am 08:39 AM

The ten apps that can view the long-short data ratio in the currency circle are: 1. CoinMarketCap, providing comprehensive information; 2. Binance, trading platform, high liquidity; 3. OKX, world-leading, supports multiple trading; 4. TradingView, chart platform, rich technical analysis tools; 5. Kraken, European platform, high security; 6. Bitfinex, suitable for professional traders; 7. Bitstamp, stable and reliable; 8. Huobi, rich trading functions; 9. Coinglass, focusing on the contract market, friendly interface; 10. Delta, integrating market data, supporting long-short analysis.

How to make money in currency contracts? A list of tips for double contracts in the currency circleApr 22, 2025 am 08:36 AM

The core methods of profitability in currency circle contracts include: 1. Trend tracking and band operations, driving profit through technical analysis and news surface; 2. Arbitrage and hedging strategies, using cross-platform price spreads and options hedging; 3. Reasonable use of leverage, adjusting leverage multiples according to market fluctuations; 4. Risk control, setting stop loss and take profit and managing positions.

The latest inventory of the top ten digital currency exchanges in the world in 2025 and analysis of advantages and disadvantagesApr 22, 2025 am 08:33 AM

The top ten digital currency exchanges in the world in 2025 are: Binance, OKX, Gate.io, Coinbase, Kraken, Huobi, KuCoin, Bybit, Bitstamp and Upbit. 1. Newbie/institutional users should choose Coinbase and Kraken because of their strong security and compliance and transparency. 2. High frequency/derivative traders are suitable for use with Binance, OKX and Bybit, providing low rates and high liquidity. 3. Users who explore small currencies can choose KuCoin and Gate.io, but they need to pay attention to diversifying risks. 4. Users with localization needs can choose Huobi (Asia), Upbit (South Korea) and Bitstamp (Europe).

Top 10 virtual currency trading platforms with the lowest handling feeApr 22, 2025 am 08:30 AM

Binance spot trading fee is 0.1%, and holding BNB can be reduced to 0.025%; OKX rate is 0.1%-0.2%, with a minimum of 0.02%; Gate.io rate is 0.2%, with a minimum of 0.10%; FTX rate is 0.02%-0.05%, but has filed for bankruptcy; Coinbase Pro rate is as low as 0.05%, ordinary users; Kraken rate is 0.16%-0.26%, with a minimum of 0.10%; Bitfinex rate is 0.1%-0.2%, with a minimum of 0.02%; Huobi rate is 0.2%, with a minimum of 0.02%; KuCoin rate is 0.1%, with a minimum of 0.02%; Bithumb rate is 0.15%, with a minimum of 0.02%; Huobi rate is 0.2%, with a minimum of 0.02%; KuCoin rate is 0.1%, with a minimum of 0.02%;