Bitcoin
German government transfers $195 million in Bitcoin to exchanges
The German government moved at least US$195 million in Bitcoin (Bitcoin) to exchanges, according to Arkham Intelligence.
Arkham added that the German government moved $600 million worth of BTC overall on June 19 – $130 million of which was sent to four “likely exchange addresses.” Three of the addresses were confirmed as exchange “service cards” in Kraken, Bit stampIt is Coin base.
Some have raised concerns about the impact on the market if Germany continues to sell its substantial trove of digital assets.
According to reports, the Bitcoin transfers were conducted by the German Federal Criminal Police (BKA), which seized nearly 50,000 BTC from piracy website Movie2k.to earlier this year. This was the conclusion of a major 2018 seizure of a piracy website operated by two individuals, marking one of the largest crypto seizures in history.
Following the latest transactions, the German government owns 47,179 BTC – worth around $3 billion at press time – according to Arkham data.
Bitcoin Holdings Between Nations
Bitcoin Treasures indicates that Germany has the fourth-largest Bitcoin holdings among nations, based on public information.
The top three are the US with $13.9 billion worth of Bitcoin, China with $12.4 billion and the UK with almost $4 billion. Each government has accumulated its BTC primarily through police seizures in recent years.
Ukraine has the fifth-largest Bitcoin holdings, with 46,351 BTC, largely obtained from a former government official, Yury Shchigol.
Meanwhile, some nations are accumulating Bitcoin through purchases, investments and donations. El Salvador, a pioneer in the adoption of Bitcoin as legal tender, currently holds 5,779 BTC – valued at around $390 million at the time of publishing.
The value of El Salvador’s holdings has seen a substantial profit since the country began its purchases in September 2021. Similarly, Venezuela has also turned to Bitcoin amid challenges with hyperinflation and US sanctions, while the Republic Central African Republic recently announced that it would adopt Bitcoin as an official currency
Meanwhile, Bhutan has been quietly mining Bitcoin since 2019 and currently holds around 621 BTC.