Summary:
The German government sold 1,500 BTC, valued at $94.7 million, on July 1st.
This brings its total Bitcoin holdings to 44,692 BTC ($2.82 billion).
The government transferred 400 BTC to major exchanges like Bitstamp, Kraken, and Coinbase.
The sell-off is likely intended to raise capital for government operations.
This sell-off could add to the bearish sentiment surrounding Bitcoin, as a major government player is reducing its exposure to the cryptocurrency.
The German government has sold an additional 1,500 BTC, valued at $94.7 million, bringing its total Bitcoin holdings to 44,692 BTC ($2.82 billion). This follows a previous sell-off last week, indicating a strategic move to reduce its Bitcoin reserves. The government transferred 400 BTC to major exchanges like Bitstamp, Kraken, and Coinbase. While the exact reasons for these sales remain unclear, it's likely they are intended to raise capital for government operations. This sell-off adds to the bearish sentiment surrounding Bitcoin, as a major government player is reducing its exposure to the cryptocurrency.
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