German government sold all of it bitcoin holdings

On July 12, 2024, German government sold all of its bitcoin holdings.

Arkham on X: "BREAKING: The German Government is now out of Bitcoin. The German Government just sent 3846.05 BTC ($223.81M) to Flow Traders and 139Po (likely institutional deposit/OTC service). The German Government has 0 BTC ($0.00M) remaining. 

The German Government sent 3846.05 BTC worth $223.81 million to Flow Traders and 139Po on July 12.

As a result, the German Government has 0 BTC ($0.00M) remaining.

The German government had been actively selling 50,000 BTC for 3 weeks, a large portion of bitcoin that it had seized

The market could absorb bitcoin selling pressure from German government. Bitcoin is trading at $57,870.