The German government has once again moved extra Bitcoin, transferring over 3,000 BTC today, adding to a weekly total of over 10,000 BTC moved.
This rise in activity continues despite requests from German legislator Joana Cotar, who has spoken out against the government's hasty sale of Bitcoin. Cotar proposes using Bitcoin as a "strategic reserve currency." This would help counteract traditional financial system concerns.
In recent transactions, almost 6,000 BTC moved in and out of the state's wallet in a single day. Larger amounts have gone to exchanges or hidden addresses. Despite these moves, which echoed throughout the crypto market, Cotar denounced the sell-offs as futile. The government liquidated $172M in Bitcoin following her appeal.
The continued sales have lowered the wallet's holdings. Current German government holdings have fallen from a high of over 42,200 BTC, valued at $2.4B, to approximately 35,400 BTC, valued at $2B.
This string of high-volume transactions continues to shake market dynamics, altering pricing and public perception of state crypto policies.
