Between July 11 and 12, the German Government executed significant Bitcoin transfers. They transferred 5,000 BTC to various exchanges, including Coinbase, Kraken, Bitstamp, Flow Traders, and B2C2 Group. The transactions occurred between 23:51 on July 11 and 0:09 UTC+8 on July 12. This move highlights the government’s active engagement in cryptocurrency trading.
As of the latest report, the German Government holds 9,094 BTC. The total portfolio value stands at $518,402,380.66 which refects a decrease of $6.96 million and Bitcoin is valued at $57,003.00. The portfolio’s peak above $4.5 billion in March-April 2024 shows the significant fluctuations in the crypto market.
Kraken Returns: German Government Recovers $141 Million in BitcoinOn July 12, between 1:20 and 5:33 UTC+8, the government received 4,169 BTC from Coinbase, Kraken, and Bitstamp. The government’s active trading strategy involves significant interactions with major exchanges. The image below highlights the current Bitcoin holding of 9,094 BTC.
As of press time on Froday, Bitcoin stood at $57,041.40, with a 24-hour trading volume of $24,815,223,129. This represents a -1.45% decline in the last 24 hours but a 5.19% increase over the past seven days.
Notably, Joana Cotar, an independent Member of Parliament, recently expressed frustration and concern regarding the government’s lack of a coherent strategy. Cotar suggested that the current sales might be a response to Germany’s significant budget deficits and the approaching elections.
She criticized the government for its apparent ignorance of the potential consequences of its actions. She pointed out that it might not be aware that such sales are often conducted over-the-counter rather than through stock exchanges.
The German Government’s strategic transactions and current holdings provide insight into their approach to cryptocurrency investments. Their recent activities highlight the volatility and potential of the cryptocurrency market.
