Ramazan Eles 
The German government is continuing its Bitcoin (BTC) sales, with another large transaction taking place on Monday, July 8th.
On-chain data from Lookonchain shows that the government sent 1,000 BTC worth approximately $55 million to cryptocurrency exchanges Coinbase and Bitstamp.
This latest sale leaves the government with 38,826 BTC, worth around $2.1 billion. The German government has been putting downward pressure on Bitcoin prices for about two weeks now, with a similar sale taking place just last weekend.
In total, the government has sold over $400 million worth of Bitcoin in less than a month. German MP Joana Cotar has speculated that the government may be selling due to the current budget deficit in Germany.
Bitcoin prices are down 3.4% in the last 24 hours and are currently trading at $55,556.
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