Germany has finalized its sale of Bitcoin, sending out its last transactions on Friday, potentially ending weeks of market speculation over billions of dollars in cryptocurrency sales, according to data from blockchain analysis firm Arkham Intelligence.
The German government, now showing a zero balance in its main Bitcoin account, likely began offloading its $2 billion Bitcoin cache through major exchanges like Coinbase Global Inc., Kraken, and Bitstamp about three weeks ago, as per Arkham’s transaction records. Requests for comment from Arkham and the Dresden Public Prosecutor’s Office were not immediately returned.
In January, German authorities announced the seizure of nearly 50,000 Bitcoins, voluntarily handed over by a suspect amid allegations of commercial, unauthorized use of copyrighted materials, and commercial money laundering.
Bitcoin’s price has experienced significant volatility in recent weeks, influenced by speculation regarding Germany’s Bitcoin sales and ongoing repayments to creditors by the bankrupt Japanese crypto exchange Mt. Gox. Bitcoin has decreased by approximately 7% in July, trading at around $57,840 on Friday.
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