German gov’t shifts further 3K BTC in 1 hour

Cointelegraph2024/07/08 12:25

By:Josh O'Sullivan

The German government has moved over 3,000 Bitcoin in the last hour, tallying the total BTC volume in the last 24 hours to a five-figure sum.

The transactions continue the Bitcoin ( BTC ) sell-off trend set by the German government last week despite parliamentary members like the German lawmaker and BTC activist Joana Cotar’s urging them to "refrain" from doing so.

Cotar urged the government to stop its "hasty disposal of state-owned Bitcoin" and instead adopt a "strategic reserve currency” to shield itself against the risks of the traditional system.

Arkham Intelligence data showing the last four hours of transactions made by the German Government wallet. Source: Arkham Intelligence .

Related: German, US gov‘ts move $150M in crypto

Over 10,000 BTC volume moved

In the last 24 hours, the German government has had a total combined inflow and outflow of more than 6,000 BTC, more than half of which has been shifted onto exchanges or unknown addresses.

This is a developing story, and further information will be added as it becomes available.

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