Major Crypto Transfers by German and U.S. Governments Take Place, A Recent Pattern Not to Deny
In a notable series of transactions, the German and U.S. governments have recently transferred significant amounts of cryptocurrency, raising speculation about their potential intentions to sell these assets.
On July 1, the German government moved 1,500 Bitcoin (BTC), valued at approximately $95 million, to various crypto exchanges. This transfer is part of a larger pattern observed over the past two weeks, during which the German authorities have transferred a total of 2,700 BTC to exchanges such as Bitstamp, Coinbase, and Kraken.
Data from on-chain analytics platform Arkham Intelligence indicates that these recent transactions include 400 BTC sent to major exchanges and an earlier transfer of 750 BTC on June 26.
The German government currently holds 44,692 BTC, worth around $2.82 billion, making it one of the largest known state holders of Bitcoin.
U.S. Government’s Ether Transfers
Similarly, the U.S. government has been active in moving its cryptocurrency holdings. According to Arkham Intelligence, the U.S. transferred 3,375 Ether (ETH), valued at about $11.75 million, to an unknown address. This Ether was part of assets seized from Estonian crypto entrepreneurs Sergei Potapenko and Ivan Turõgin.
Additionally, the U.S. government moved 11.84 BTC, worth approximately $743,000, from another seized funds address on June 30.
Currently, wallets associated with the U.S. government hold approximately 213,534 BTC, worth $13.42 billion, and about 50,524 ETH, valued at roughly $175.9 million, among other crypto assets.
These frequent transactions by both governments suggest strategic management of their crypto holdings. The German government’s transfers to exchanges could indicate a plan to liquidate some of its assets. Meanwhile, the U.S. government’s move of Ether to an unknown wallet might signal a shift in how it manages its seized crypto funds.
Impact of Regulatory Developments
These movements come in the context of significant regulatory developments. For instance, the European Union’s recent adoption of the Markets in Crypto-Assets Regulation (MiCA) could influence Germany’s approach to managing its crypto holdings. MiCA is expected to impact stablecoins and crypto asset services, potentially reshaping the market.
As the crypto market reacts to these developments, Bitcoin’s price has risen by 2.19% over the past 24 hours, reaching around $62,789, while Ether has gained 2.71%, trading at approximately $3,479.
