Has Germany finished transferring its Bitcoins?

According to blockchain data, the German government has transferred the last of its Bitcoin assets, ending a nearly three-week selling spree.

As of Friday, July 12, wallets linked to German authorities no longer held Bitcoin (BTC), according to blockchain data from Arkham Intelligence.

The German government sent the remainder of its 3,846.05 BTC to Flow Traders and 139Po.

Three weeks ago, the German government held 50,000 BTC, worth almost $3 billion. Then, they started selling the asset and BTC corrected by about 18%.

Like crypto.news reported In early June, Germany’s Federal Criminal Police Office (BKA) originally seized around 50,000 BTC from the operators of the popular pirated movie website Movie2k.to in 2013. The BKA obtained the Bitcoin in mid-January after receiving a “voluntary transfer” from the suspects. The BKA received the Bitcoin in mid-January after the suspects made a “voluntary transfer.”

“Germany dumping its seized BTC may go down as one of the biggest strategic mistakes in history for decades to come,” posted William Clemente III, co-founder of Reflexivity Research.

The sale in Germany seems to be ending, but Mount Gox and Genesis Trading are still selling significant amounts of BTC, contributing to the recent price decline. Mt. Gox is paying off its creditors with over 140,000 BTC, 143,000 Bitcoin Cash, and 69 billion Japanese yen, while Genesis Trading has been actively liquidating assets, increasing selling pressure.

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