The German government caught the attention of the market again with its Bitcoin (BTC) transactions on July 10 at 12:10 pm. According to Spot On Chain, Germany transferred 5,853 BTC worth a total of $342 million from cryptocurrency wallets to leading exchanges and market makers. These movements were among a series of Bitcoin transactions that took place in the last 24 hours, and some BTC were withdrawn back into wallets, causing confusion.
With the latest transfers, the German government now holds 18,860 Bitcoins worth approximately $1.11 billion. These large transactions have once again demonstrated that the government is a major player in the cryptocurrency market and how it can influence the market.
