{"id":821,"date":"2024-07-08T12:48:10","date_gmt":"2024-07-08T12:48:10","guid":{"rendered":"http:\/\/ci02e1e98990002699"},"modified":"2024-07-08T12:48:10","modified_gmt":"2024-07-08T12:48:10","slug":"german-government-moves-another-56m-in-bitcoin-to-exchanges","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/german-government-moves-another-56m-in-bitcoin-to-exchanges","title":{"rendered":"The German Government Is Selling More Bitcoin \u2013 $28 Million Moves to Exchanges"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><p>The German government continued shifting portions of its massive Bitcoin trove to exchanges on Monday, transferring over $56 million worth across multiple transactions.<\/p>\n<p>According to <a href=\"https:\/\/platform.arkhamintelligence.com\/explorer\/entity\/germany\" target=\"_blank\" rel=\"noopener\">blockchain data<\/a>, addresses linked to the German government moved&nbsp;a total of 500 BTC to Bitstamp and Coinbase (250 BTC each), worth about $27.9 million, at 14:48 UTC+8 today, and transferred 500 BTC to an unmarked address.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">JUST IN: \ud83c\udde9\ud83c\uddea German Government sends another 1,000 <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#Bitcoin<\/a> worth $56 million to exchanges \ud83d\udc40 <a href=\"https:\/\/t.co\/zsxg3q2tkV\">pic.twitter.com\/zsxg3q2tkV<\/a><\/p>\n<p>&mdash; Bitcoin Magazine (@BitcoinMagazine) <a href=\"https:\/\/twitter.com\/BitcoinMagazine\/status\/1810261185578541226?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">July 8, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><a href=\"https:\/\/bitcoinmagazine.com\/tags\/germany\">Germany<\/a> originally seized nearly 50,000 Bitcoin back in 2013 from the operators of the now-defunct piracy website Movie2K. The stash is estimated to be worth around $2.3 billion at today&#8217;s prices.<\/p>\n<p>This comes after the government shifted around $390 million in Bitcoin to various platforms <a href=\"https:\/\/bitcoinmagazine.com\/business\/german-government-moves-over-75-million-in-bitcoin-to-exchanges\">since mid-June.<\/a><\/p>\n<p>The steady flow of transfers to exchanges signals Germany&#8217;s potential intentions to liquidate parts of its reserves. While reasons remain uncertain, the sales have fueled volatility in Bitcoin&#8217;s price, which dipped below $55,000 last week.<\/p>\n<p>However, the amounts shifted so far equate to a relatively small portion of Germany&#8217;s massive holdings. After the latest transactions, the government still possesses around 40,000 bitcoins valued at nearly $2.2 billion.<\/p>\n<p>Nonetheless, the remaining reserves represent a significant share of daily Bitcoin trading volumes. As such, experts caution the threat of further turbulence lingers as long as Germany stays active in reducing exposure.<\/p>\n<p>The liquidations come just as long-awaited creditor <a href=\"https:\/\/bitcoinmagazine.com\/business\/bitcoin-price-falls-as-mt-gox-starts-repayments\">payouts from Mt. Gox&#8217;s<\/a> 2014 collapse appear set to begin. This timing might compound selling pressure on Bitcoin amid an already bearish macro environment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The German government shifted another $56 million in Bitcoin to different platforms, continuing to offload portions of its massive Bitcoin trove and fueling volatility amid creditor payouts from Mt. Gox.<\/p>\n","protected":false},"author":2513,"featured_media":26435,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[485,200,486,93],"class_list":{"0":"post-821","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-bitcoin-exchanges","9":"tag-germany","10":"tag-government-seizure","11":"tag-news"},"author_data":{"id":2513,"name":"Vivek Sen","nicename":"vivek-sen-bitcoin","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2025\/03\/cropped-vivek-96x96.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/germany.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/821","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/2513"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=821"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/821\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/26435"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=821"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=821"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=821"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}