{"id":24877,"date":"2024-07-11T21:00:33","date_gmt":"2024-07-11T18:00:33","guid":{"rendered":"https:\/\/coinengineer.io\/?p=24877"},"modified":"2024-07-12T09:34:18","modified_gmt":"2024-07-12T06:34:18","slug":"german-government-gets-back-141-million-in-bitcoin-from-exchanges-and-institutions","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/german-government-gets-back-141-million-in-bitcoin-from-exchanges-and-institutions\/","title":{"rendered":"German Government Gets Back $141 Million in Bitcoin from Exchanges and Institutions"},"content":{"rendered":"

It was reported that the German government, which has made a name for itself with its recent Bitcoin sales, took back BTC worth $141 million. The German government took back 2442 Bitcoins late last night. Yesterday, more than 10,853 Bitcoins (worth $637.7 million at the time) were initially transferred out.<\/p>\n

The German government wallet responsible for sending large amounts of Bitcoin to exchanges and market institutions received 2442 Bitcoins back from exchanges and institutions late last night.<\/p>\n

According to data from Arkham, the wallet received 903 Bitcoins ($52.3 million) from crypto exchange Kraken. Additionally, 1,529 BTC ($88.6 million) inflows were seen from addresses not yet tagged by the on-chain analytics platform. The German government also received ten BTCs ($575,000) from Bitstamp.<\/p>\n

Might interest you: Germany Continues to Sell Bitcoin: New Transfer of 5800 BTC<\/a><\/em><\/p>\n

Yesterday, after a large amount of bitcoin outflow to exchanges and institutions, there were returns to the wallet controlled by German authorities. As The Block previously reported, more than 10,853 bitcoins (worth $637.7 million at the time) were transferred out yesterday.<\/p>\n

As for the reason why bitcoins returned to the German government wallet after exiting, it is estimated that there may be \u201cunsold bitcoins as part of a sales agreement between the crypto exchange and the country,\u201d according to Steven Zheng, Research Director of The Block.<\/p>\n

The latest transfers are in line with the German government’s strategy to sell 50,000 bitcoins seized from movie piracy site Movie2K, which went bankrupt in January.<\/p>\n

German Bundestag member and bitcoin advocate Joana Cotar criticized the government’s decision to “hastily” sell its holdings of bitcoins instead of a comprehensive bitcoin strategy as “unproductive”.<\/p>\n

\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram,\u00a0<\/strong><\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

It was reported that the German government, which has made a name for itself with its recent Bitcoin sales, took back BTC worth $141 million. The German government took back 2442 Bitcoins late last night. Yesterday, more than 10,853 Bitcoins (worth $637.7 million at the time) were initially transferred out. The German government wallet responsible<\/p>\n","protected":false},"author":6,"featured_media":24921,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[61,7335,7336],"class_list":["post-24877","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-bitcoin","tag-bitcoin-germany","tag-german-goverment"],"yoast_head":"\nGerman Government Gets Back $141 Million in Bitcoin from Exchanges and Institutions - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/german-government-gets-back-141-million-in-bitcoin-from-exchanges-and-institutions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"German Government Gets Back $141 Million in Bitcoin from Exchanges and Institutions - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"It was reported that the German government, which has made a name for itself with its recent Bitcoin sales, took back BTC worth $141 million. 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