The German government sold off the remainder of its Bitcoin (BTC) holdings on July 12, as per Arkham Intelligence data.
The last transaction was a transfer of 3,094 Bitcoin to an unknown wallet labeled “139Po,” identified by Arkham as a probable institutional deposit or over-the-counter (OTC) service.
Since June, the German authorities have been selling tens of thousands of Bitcoin. The wallet originally held 49,857 BTC, which were seized from the film piracy site Movie2k in January.
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This large volume of sales contributed to keeping the price of Bitcoin below the $60,000 mark; at the time of writing, it has recovered to over $63,000.
Following the final sale, the German government’s Bitcoin wallet balance dropped to nearly zero. However, in the past few days, a group of Bitcoin enthusiasts began sending small donations to the wallet, totaling over $300 worth of Bitcoin.
Some of the individuals involved used personalized Bitcoin addresses, which included derogatory or playful messages, such as “1ELonMUSK.”
The German government’s final sell-off has not only impacted market prices but also sparked a wave of trolling from the Bitcoin community. This demonstrates the community’s engagement and the distinctive ways in which they interact with institutional activities.
In other news, former US President Donald Trump will still deliver his speech at the upcoming Bitcoin Conference, despite surviving an assassination attempt on July 13.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
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