Cryptocurrencies

Germany and the US are liquidating millions of crypto again?


The German and American governments appear to be teasing the crypto market again with millions of dollars in sales. For example, the German government sent 95 million dollars worth of Bitcoin to the stock exchanges and the American government mobilized 3,375 Ethereum.

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German Government Sells Bitcoin

According to data from Arkham Intelligence the German government has gone into sales mode. They sent 2,700 Bitcoin to the exchanges in the past two weeks. This involved exchanges such as Bitstamp, Coinbase and Kraken.

In total, the German government still owns 44,692 Bitcoin, worth approximately $2.82 billion.

With this, the German government seems to want to profit from the price explosion that Bitcoin experienced last night. Quite suddenly, the Bitcoin price shot up to 64,000 dollars. In the meantime, we have already slightly decreased to the level of 62,800 dollars.

This still represents a 2.33% increase for Bitcoin over the past 24 hours.

Ethereum put up for sale by America

In America, the news is all about the sale of Ethereum by the government. They sent the seized Ethereum from crypto entrepreneurs Potapenko and Turogin to another wallet.

Earlier on June 30, the US government sent $743,000 worth of Bitcoin to another address.

Unlike the German government, the Americans seem to choose to sell their Ethereum and Bitcoin privately in so-called OTC deals. In doing so, they sell less on the exchanges, which may cause the market to move less.

That does not alter the fact that it is a shame that Bitcoin and Ethereum are coming onto the market at this time. Bitcoin finally seems to be recovering from the heavy blows it received in recent weeks.

A lack of demand means Bitcoin appears to be struggling to break out. Of course, the flooding of the market by the German and American governments does not help.

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