German government transfers additional $175 million in bitcoin, including $75 million to crypto exchanges

Quick Take

  • The German government transferred 3,000 bitcoin ($175 million) to various addresses.
  • 1,700 bitcoin were sent to an unidentified address starting with “139Po.”
  • Additional transfers included 500 BTC to Bitstamp, 400 BTC to Coinbase, and 400 BTC to Kraken.

The German government appeared to send another batch of bitcoin to a few addresses, further signaling its potential intention to sell the assets, data from Arkham shows.

The authorities in Germany moved a total of 3,000 bitcoin ($175 million) to a few addresses, including crypto exchanges, according to Arkham data. Of this amount, it transferred 1700 BTC to an address that started with “139Po,” which is yet to be identified by the platform.

The government also sent 500 BTC to an address at Bitstamp, 400 BTC to a Coinbase address and 400 BTC to a Kraken address.

The latest transactions follow similar moves over the past two weeks. On Tuesday, the government sent about $17.6 million worth of bitcoin to its addresses at exchanges. The German government has now sent over $300 million worth of bitcoin to identified exchange addresses and the “139Po” address, the data showed. The government currently holds 40,359 bitcoin, worth about $2.32 billion. 

Crypto traders are closely watching the movements made by the German and U.S. governments, as well as payout updates from the defunct crypto exchange Mt. Gox.

The price of bitcoin fell 5.28% over the past 24 hours to around $57,343, the lowest level since early May, according to The Block’s bitcoin price page.


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About Author

Timmy Shen is an Asia editor for The Block. Previously, he wrote about crypto and Web3 for Forkast.News from Taiwan after spending more than three years in Beijing covering finance, entertainment business and current affairs at Caixin Global and Chinese tech at TechNode. His China-related reporting has also appeared in The Guardian. When he's not chasing headlines, you'll find him savoring hot pot and shabu shabu in a Taipei local haunt. Timmy holds an MS degree from Columbia University Graduate School of Journalism. Send tips to [email protected] or get in touch on X/Telegram @timmyhmshen.

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