German government transferred $75 million worth of BTC to exchanges

05/07/2024 Image Credit: Google Cryptocurrency

After the US, now the German government has also transferred additional bitcoin to exchanges.

[{"selector":"#anim-cd9fe415-2ac1-4d05-b856-40986ae77eb2","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-847c8398-c5ba-4c2d-b932-800f9ebda34d","keyframes":{"transform":["translate3d(0px, 150.64327%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0b87f878-d788-4e25-a392-04a3184dbd32","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Image Credit: Google

According to a news report, the German government has transferred $75 million worth of BTC to exchanges.

[{"selector":"#anim-f9c904bb-7a4b-4f82-a2a8-c77a7fbef03b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8d6ac949-a1ed-45be-bdc6-d4ca69f5c2fb","keyframes":{"transform":["translate3d(0px, 150.64327%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Image Credit: Google

After which the total amount of recent sales of seized reserves has exceeded $390 million.

[{"selector":"#anim-40524718-8824-4e18-9bc6-7c84bc9f4a65","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4605ec98-04bc-49d1-8bf6-15880d681dfa","keyframes":{"transform":["translate3d(0px, 150.64327%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Image Credit: Google

The German Federal Criminal Police Office transferred about $75 million worth of BTC through several transactions on July 4, 2024.

[{"selector":"#anim-8f721d3d-520c-4fe8-8a9e-1763552e5d88","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ed454f55-0fd6-4570-87e2-65f7d8501456","keyframes":{"transform":["translate3d(0px, 137.14032%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Image Credit: Google

The funds were spread across several exchanges including Coinbase, Kraken and Bitstamp.

[{"selector":"#anim-98b3c375-46e9-4473-a0a3-8aad22a9a112","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7e6129e0-295d-4fe8-a3db-c9a9f49b5ef9","keyframes":{"transform":["translate3d(0px, 148.01167%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Image Credit: Google

This comes after the German government transferred about $315 million worth of BTC across platforms since mid-June 2024.

[{"selector":"#anim-ae46fc66-5324-49bf-a4c5-4f59cbb03824","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ccf8ae9f-0c78-45cd-8b37-c7f719df92e0","keyframes":{"transform":["translate3d(0px, 141.91919%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Image Credit: Google

In this way, Germany has sold more than $390 million in bitcoin (BTC) in less than a month.

[{"selector":"#anim-c9593e3a-16d5-4178-bf4f-bd28137026df","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-89a25c4c-83fb-4b64-affc-8aac7ae873f5","keyframes":{"transform":["translate3d(0px, 147.48536%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Image Credit: Google

The amount transferred so far still leaves about 40,000 bitcoins in the German government's huge bitcoin reserves.

[{"selector":"#anim-6f481b4b-e8b3-4ff5-a708-8e5d59fa55b2","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bd303f1a-6c86-4456-80cb-5fbb8e2de2d7","keyframes":{"transform":["translate3d(0px, 142.82827%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Image Credit: Google

2. Bitcoin's journey from 2009 to 2024

[{"selector":"#anim-0de084d6-2ae7-4ba9-bafc-0b04cae28d47","keyframes":{"transform":["scale(1)","scale(1.5)","scale(0.95)","scale(1)"],"offset":[0,0.33,0.66,1]},"delay":0,"duration":1450,"easing":"ease-in-out","fill":"both","iterations":1}] [{"selector":"#anim-41929a78-c421-43ac-8730-37f119607b8b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ec3b0fea-f5ec-49c3-a814-bec713269eda","keyframes":{"transform":["translate3d(-121.67832%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-712c92f3-67ba-4211-9687-46a42b431f23","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-53013efd-8f68-480a-ab9f-14a04802ee38","keyframes":{"transform":["translate3d(122.53521%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f5785996-f6d1-480b-b6c5-a28bb44a64a7","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b6d6282f-0a8b-49d0-8ea9-962d36ffdebf","keyframes":{"transform":["translate3d(127.95275%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2500b12c-8bbf-4ca7-b7e7-843490c387c1","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9229910c-23bd-45ea-9331-0eadf2da462f","keyframes":{"transform":["translate3d(-130.9804%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]