Home
BITCOIN
German Government Transfers Bitcoin Worth Millions
According to recent reports from Arkham, the German Government has been actively transferring significant amounts of Bitcoin (BTC) to various cryptocurrency exchanges (CEX) and market makers.
Key Transfers:
- Recent Transfers to Bitstamp, Coinbase, and Kraken:
- On the afternoon of July 2, 2024, at 16:20 UTC+8, the German Government transferred a total of 282.74 BTC to three major cryptocurrency exchanges: Bitstamp, Coinbase, and Kraken.
- The total value of these transfers was approximately $17.64 million.
- Transfer to Market Maker Flow Traders:
- Later the same day, at 19:17 UTC+8, the government transferred 361.877 BTC to the market maker Flow Traders.
- This transaction was valued at about $22.65 million.
- Cumulative Transfers Over Two Weeks:
- Over the past two weeks, the German Government has transferred a total of more than 3,000 BTC to various cryptocurrency exchanges. This indicates a continued and significant level of activity in the crypto markets.
Implications:
Market Impact:
- The transfer of large amounts of Bitcoin by a government entity can have a substantial impact on the market. Such activities might lead to price fluctuations depending on market conditions and investor sentiment.
Given the scale of these transactions, market participants and analysts will likely monitor further activities closely. The continuous movement of Bitcoin by institutional entities, including governments, could signal broader adoption and integration of cryptocurrencies into traditional financial systems.
Related Posts
Bitcoin's 8.85% gain in September signals a mega bullish Q4, following historical trends. Could 2024 be another record-breaking year for Bitcoin?
In a first for the US coffee industry, Compass Coffee has made an international purchase using Bitcoin
September 19, 2024 — Excitement is in the air as Bitcoin traders and enthusiasts are feeling optimistic with the cryptocurrency nearing the significant $65,000 mark. This surge in confidence is…
Breaking News: Bitcoin Surpasses 60,000 US Dollar Mark, Up 3.88% in 24 Hours - BlockBeats News, September 14
MicroStrategy adds 18,300 Bitcoin to its holdings, totaling 244,800 BTC valued at $9.45 billion as of September 2024. The company reports a 17% YTD Bitcoin yield, reaffirming its bullish stance…
Bitcoin, despite recent volatility, is set to see a significant increase in corporate adoption. According to a prediction by Bitcoin technology company River.
A Bitcoin whale has offloaded a significant portion of their holdings, selling 680 BTC worth $38 million in the past five hours.
Bitcoin mining difficulty hits a record 89.47 trillion, rising by 2.99% just before the halving event. Miners face increased competition as they gear up for major changes.
CME Group, a global leader in derivatives and futures markets, has announced the launch of a new product – Bitcoin Friday Futures (BFF). This innovative offering is set to start…
Dive into the dynamics of Bitcoin price. Learn how supply and demand, market sentiment, regulations, technological advancements, and macroeconomic factors influence Bitcoin's value. Stay informed and make better investment decisions.
[smart_post_show id="76610"]
[smart_post_show id="82794"]