German and American government 150 million dollars in crypto
The governments of Germany and the United States have attracted a lot of attention after transferring millions of dollars in crypto holdings.
The German government has made massive Bitcoin (BTC) transfers, while the US government has transferred Ether (ETH) from its holdings.
On July 1, the German government moved 1,500 BTC worth approximately $95 million to multiple crypto exchanges, while the US government moved 3,375 ETH worth $11.75 million to an unknown address.
RELATED: US Government Among States With Largest Bitcoin Holdings – Arkham
German government BTC transfers
According to data from onchain analytics platform Arkham Intelligence, the German government has transferred 2,700 BTC to multiple exchanges in the past two weeks.
The exchanges include Bitstamp, Coinbase and Kraken. The German government currently holds 44,692 BTC worth approximately $2.82 billion.
In the most recent transfers, 400 of the 1500 BTC were sent to the mentioned major crypto exchanges, while 750 BTC was transferred on June 26 – 250 to Bitstamp and Kraken.
Related: Will Germany Sell BTC? A wallet marked by Arkham aroused curiosity
The US government transfers ETH
According to Arkham Intelligence, the U.S. government has made large transactions, most notably money containing addresses seized from Estonian crypto entrepreneurs Potapenko and Turojin.
The U.S. government has now moved the entire $11.75 million in ETH holdings to a previously unlinked address, from another custodial address that previously held 11.84 BTC to $743,000 on June 30.
Related: A 4-Week Correction for Bitcoin? Matt Gox, German government steps up selling pressure.
Analysis and influence
These frequent transfers by both governments indicate a strategic management of the holdings, as Germany seeks to eliminate its holdings on major exchanges.
The move by the US government to an anonymous wallet may signal a general change in ETH fund management.
Markets in the Crypto-Assets Regulation (MiCA), which was recently approved by the European Union, may affect crypto exchanges in Germany.
Set to affect stablecoins and crypto asset services alike, MCA is expected to significantly shake up the crypto market.
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