The government of Germany has transferred 282 Bitcoins, valued at approximately $18 million, to major cryptocurrency exchanges Kraken, Bitstamp, and Coinbase.
This move is part of Germany’s active management of its digital asset holdings, showcasing the nation’s growing involvement in the evolving cryptocurrency market.
According to Arkham Intelligence reveals that the 282 Bitcoins were divided as follows: 32.74 BTC ($2.04 million) to Kraken, 150 BTC ($9.36 million) to Bitstamp, and 100 BTC ($6.24 million) to Coinbase.
Over the past two weeks, Germany has transferred more than 3,000 BTC to various exchanges, indicating a strategic approach to handling its substantial Bitcoin reserves.
Currently, Germany holds 43,359 BTC, valued at around $2.72 billion.
Recently, the government also transferred 1,500 BTC worth $94.7 million.
A notable transaction on June 25 saw 900 BTC, valued at $54 million, quickly moved to Coinbase and Kraken within just 20 minutes.