{"id":83602,"date":"2024-07-08T09:17:03","date_gmt":"2024-07-08T13:17:03","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=83602"},"modified":"2024-07-08T09:17:06","modified_gmt":"2024-07-08T13:17:06","slug":"german-government-transfers-3k-btc-in-1-hour","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/german-government-transfers-3k-btc-in-1-hour\/","title":{"rendered":"German Government Transfers 3K BTC in 1 hour"},"content":{"rendered":"\n

The German government <\/a>transferred over 3,000 Bitcoins in an hour, bringing the total combined inflow and outflow to over 6,000 BTC.<\/p>\n\n\n\n

\"German
German Government Transfers 3K BTC in 1 hour<\/figcaption><\/figure>\n\n\n\n

The transactions persist in the Bitcoin sell-off trend initiated by the German government last week, despite the imploring of parliamentary members, including the German lawmaker and BTC activist Joana Cotar, to “refrain” from doing so.<\/p>\n\n\n\n

Cotar implored the government to cease its “hurried disposal of state-owned Bitcoin” and instead implement a “strategic reserve currency” to protect itself from the pitfalls of the conventional system.<\/p>\n\n\n\n

\"\"
Arkham Intelligence data showing the last four hours of transactions made by the German Government wallet. Source:\u00a0Arkham Intelligence\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>.<\/em><\/figcaption><\/figure>\n\n\n\n

The volume of Bitcoin transfers exceeded 1,000 BTC.<\/p>\n\n\n\n

The German government has experienced a total combined inflow and outflow of over 6,000 BTC in the past 24 hours, with over half of this amount shifting out of the wallet.<\/p>\n\n\n\n

The address currently holds 35,488 BTC, valued at over $2 billion, and has received 4,340 BTC throughout the day. Of this amount, over 3,000 BTC have been transferred to exchanges or unverified addresses.<\/p>\n\n\n\n

German Bitcoin Political Dispute<\/h2>\n\n\n\n

On July 4, Cotar submitted a statement to the German government in which she advocated for the retention of BTC to diversify the country's treasury assets, foster innovation, and hedge against inflation.<\/p>\n\n\n\n

Although the government sold an additional $172 million later that day, the lawmaker characterized the decision to sell off its BTC holdings<\/a> as “not only not sensible, but counterproductive.”<\/p>\n\n\n\n

At the time, the wallet contained more than 42,200 BTC, valued at $2.4 billion. However, these values have decreased to over 35,400 BTC and $2 billion, respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"

The German government transferred over 3,000 Bitcoins in an hour, bringing the total combined inflow and outflow to over 6,000 BTC. The transactions persist in the Bitcoin sell-off trend initiated by the German government last week, despite the imploring of parliamentary members, including the German lawmaker and BTC activist Joana Cotar, to “refrain” from doing […]<\/p>\n","protected":false},"author":12,"featured_media":70292,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21,83],"tags":[6867,152,711],"class_list":["post-83602","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-bitcoin-news","tag-btc-holdings","tag-bitcoin","tag-germany"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/01\/image-136.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/83602","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=83602"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/83602\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/70292"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=83602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=83602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=83602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}