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German governmental bodies still hold 18,110 BTC amid post-seizure management

DATE POSTED:July 10, 2024
Quick Take

On July 10, the German government moved a large portion of its Bitcoin, totaling 5,853.5 BTC, valued at approximately $343.91 million, according to Arkham Intelligence. In the latest transaction, 750 BTC was sent to address 139Po, which Arkham Intelligence suggests could be an institutional deposit or over-the-counter (OTC) deal.

 Arkham Intelligence)German Government Transactions: (Source: Arkham Intelligence)

Currently, the German government holds 18,110 BTC, according to Glassnode. This significant holding stems from the seizure of roughly 50,000 BTC in January.

 Glassnode)German Government Balance: (Source: Glassnode)

However, the sales may not be influenced directly by the national government of Germany but rather by the state of Saxony. The Criminal Police Office (BKA), as tagged on Arkham Intelligence’s dashboard, has been overseeing these transactions as part of an ongoing and strategic management of seized Bitcoin by governmental bodies.

The post German governmental bodies still hold 18,110 BTC amid post-seizure management appeared first on CryptoSlate.