Cryptocurrencies
Germany Appears to Finish Bitcoin Sales, Data Tracker Arkham Says
- The German government had received 50,000 Bitcoin in January
- Bitcoin’s price has been choppy in recent weeks on worries
Bitcoin’s price has been choppy in recent weeks amid speculation about German government’s sales.
Photographer: Erhan Demirtas/BloombergThis article is for subscribers only.
The German government has sent out its last Bitcoin on Friday, possibly ending billions of dollars in sales that have been the subject of market speculation in recent weeks, according to data from blockchain analysis firm Arkham Intelligence.
The government, which has a zero balance in its main account, likely started selling its cache of more than $2 billion in Bitcoin through exchanges such as Coinbase Global Inc., Kraken and Bitstamp three weeks ago, according to Arkham’s record of transactions. Arkham didn’t immediately return a request for comment.