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  • Germany Continues to Cut Its Bitcoin Reserves

Germany Continues to Cut Its Bitcoin Reserves

  • By
  • Bitcoinsensus Staff
  • published: 11.07.2024
  • Last updated: 01.08.2024

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Table of Contents

  • The German government sold about 3,100 BTC in two transactions worth about $270M
  • The BTC sales were transferred to B2C2 Group, Kraken, and an unknown wallet
  • Bitcoin’s sell-off may correlate with the 72% chance that the US Federal Reserve will cut interest rates in September

So, the German government does not let a day pass without giving news regarding its sell-off of Bitcoin reserves. Just recently, we wrote about how Germany’s Bitcoin reserves have shrunk by more than double to 18,860 BTC. You can read more about that here.

Now, Germany has made a few more transactions of 3,100 BTC on B2C2 Group, Kraken, and an unknown wallet, and its reserves are now at a record low of $13,110 BTC.

Could this be related to the likelihood of the US Federal Reserve cutting interest rates in September and the subsequent perceived increase in BTC investment?

Let’s keep a close eye on this correlation to eventually understand Germany’s true strategy regarding Bitcoin.

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