The German government has divested its last Bitcoin holdings
The German government reduced its holdings of Bitcoin (BTC) on July 12, according to data from Arkham Intelligence.
The last transaction involved 3,093 bitcoins sent to a wallet address ending in “ybVu” and came weeks after a heavy selling push by the German government, which sent tens of thousands of bitcoins down in multiple installments.
Most of the 50,000 bitcoins dumped by the German government over the past three weeks were caused by asset seizures and were responsible for keeping the market below the $60,000 price point and the 200-day exponential moving average.
Institutional investors bought the dip during heavy selling pressure. US exchange-traded fund (ETF) investors posted $295 million in inflows for the week of July 8, reversing several weeks of subdued flows into the investment fund, according to data from CoinShares.
However, from the $9 billion Mt. Gox compensation plan selling pressure could keep Bitcoin prices suspended in the coming weeks and continue the climate of fear, uncertainty and uncertainty that has gripped the market in recent months.
This is a developing story, and more information will be added as it becomes available.
