- Germany sold 3,846 Bitcoins on July 12th
- Germany’s Bitcoin reserves now stand at 0
So, we’ve been watching Germany’s systematic sell-offs for a long time, first seeing its Bitcoin reserves halved and then more.
We were trying to determine whether it would sell off all its Bitcoins and what strategy might be behind it. You can read more about this in our previous articles.
And while we still don’t know if there will be a big buyback, another critical moment has arrived.
Germany sold 3,846 Bitcoins sent to Kraken for a value of ~$223.81M.
Germany’s Bitcoin holdings are now 0.
What Does This Mean for the Market?
If Germany was planning to crash the price like it has been doing since announcing its sales, it failed. So whether we should expect a big buyback remains to be seen.
Also, US ETFs and other major players have not stopped buying Bitcoin, regardless of the price and Germany’s actions, so we see capital flowing in.
We’ll watch closely to see what’s in store for us next. Join our Legends Community to stay one step ahead of world and crypto-economics events and get the most up-to-date, trusted, and grounded information from the world of crypto!
