In a significant development, the German and U.S. governments have made sizable crypto transactions, further signaling their potential intention to sell their crypto assets. The latest moves follow similar transactions made by these governments last week, reflecting their ongoing involvement in the digital asset market.
Crypto Transactions by the German Government
According to data from blockchain analytics firm Arkham, the German government has moved a total of 1,500 bitcoins, worth approximately $94 million, to several cryptocurrency exchanges. Specifically, the data shows that the German authorities transferred:
- 600 BTC and 500 BTC to an unknown address in two separate transactions
- 200 BTC to an address at Bitstamp
- 100 BTC to a Coinbase address
- 100 BTC to a Kraken address
Crypto Transactions by the U.S. Government
The U.S. government also made significant crypto moves, with Arkham data indicating that wallets labeled as belonging to the U.S. government sent 3,375 ether, valued at around $11.75 million, to an unknown address. This transaction came from an address holding assets seized from Estonian entrepreneurs Sergei Potapenko and Ivan Turõgin.
Current Holdings of the U.S. and German Governments
The recent crypto transactions made by the U.S. and German authorities come after both governments made similar moves last week. Currently, the wallets thought to be associated with the U.S. government hold approximately 213,534 bitcoin, worth $13.42 billion, and 50,524 ether, worth around $175.9 million, among other crypto assets, according to Arkham.
On the other hand, the German government currently holds 44,692 bitcoins, valued at about $2.81 billion, the data showed. Both the U.S. and Germany are among the largest known state holders of Bitcoin.
Market Implications
The latest crypto transactions by the U.S. and German governments have been widely interpreted as signals that they intend to sell their crypto assets. This has raised questions about the potential impact on the cryptocurrency market, as the sale of such large amounts of bitcoin and ether could influence prices and trading volumes.
As the digital asset ecosystem continues to evolve, the actions of major government players like the U.S. and Germany will undoubtedly continue to be closely watched and analyzed by the broader crypto community.
