It is important to note that the word “you” means “you”. German Government has sent another tranche of Bitcoins from its huge reserves to exchanges.
The following is a list of blockchain dataOn July 4, the German Federal Criminal Police Office moved Bitcoin in multiple transactions worth about $75 million. These funds were distributed across several exchanges including Coinbase Kraken and Bitstamp.
The government has transferred around $315,000,000 in Bitcoin to different platforms since mid-June. Germany sold over $390,000,000 in Bitcoins in less than a month.
In 2013, BKA seizes nearly 50,000 bitcoins linked to the former operator Movie2K. At current prices, the stash is worth an estimated $2.3 billion.
Germany could be liquidating some reserves if bitcoin is flowing steadily to the exchanges. It has led to fears that this could have an impact on Bitcoin’s price which fell below $58,000 in the last few days.
But the amount transferred thus far is a very small part of BKA’s huge Bitcoin stash. Germany holds around 40,000 bitcoins after the most recent movements.
Similar transfers of goods by other companies are also reflected in the sales. U.S. government Recently, the United States has been selling Bitcoin confiscated in criminal cases. America holds Bitcoin that was confiscated in criminal cases. This has led to concerns about the sale of reserves.
Liquidations are a result of creditor repayments from Mt. Gox’s The 2014 crash is expected to start in July. This timing could lead to increased pressure for Bitcoin.
But proponents say that these amounts are a fraction of the daily Bitcoin trade volumes.
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Source: bitcoinmagazine.com