Germany’s Bitcoin Wallet Dips Below 40,000 BTC After Weekend Transfer.

Germany has divested 1,400 bitcoin from its government reserves, reducing the total from 41,226 BTC to 39,826 BTC. Meanwhile, bitcoin has declined 1.7% against the U.S. dollar over the past 24 hours, hovering just above the $57,000 mark.

Germany Reduces Bitcoin Holdings to 39,826 Bitcoin

This weekend, the German government’s wallet transferred another 1,400 BTC, valued at $80.12 million, according to the latest Arkham Intelligence data. This action followed recent deposits of approximately 1,915 BTC. On that day, the wallet held 41,226 BTC, but it now holds 39,826 BTC, worth $2.28 billion using BTC exchange rates on July 7. The wallet’s transactions have unsettled the crypto community, casting a shadow over the market in recent weeks.

Interestingly, at least ‎1,341.90 BTC from the funds now reside in a new Bech 32 Segregated Witness address, which has seen a total of seven transactions. This wallet is currently valued at $76,589,498. Since it began moving funds, the wallet has interacted with Coinbase, Kraken, Bitstamp, and Flow Traders. The wallet’s controller may have also engaged with another over-the-counter (OTC) dealer or market maker.

Germany’s bitcoin and the Mt Gox stash are not the only assets under observation by onchain sleuths. On July 4, the U.S. government moved 237 BTC. Additionally, two days ago, the U.S. government’s BTC holdings received a deposit of undeadservicetoken (UDS) worth $41 from the MEXC exchange. However, there have been no further bitcoin movements by U.S. authorities in the past three days. The U.S. government currently holds 213,297 BTC, valued at over $12 billion.