The German government’s latest Bitcoin transfers could impact the market significantly, as it moves 3,000 BTC to various crypto exchanges and an unknown wallet.
A crypto wallet linked to the German government transferred more than 3,000 Bitcoin worth over $172 million in parts to three crypto exchanges and a wallet.
On July 4, blockchain investigator PeckShield alerted about a significant outbound transfer of 1,300 Bitcoin (BTC) from a “German Government (BKA)” labeled cryptocurrency wallet. The $75 million worth of Bitcoin transfers was spread across three prominent crypto exchanges: Coinbase, Kraken and Bitstamp.
Further investigation from Cointelegraph revealed that the German government wallet concurrently transferred another 1,700 BTC to a separate wallet address. Speaking to Cointelegraph, the PeckShield team later confirmed that the wallet transferred 3,000 BTC: