German And US Governments Are Selling Bitcoin While El Salvador Holds
Bitcoin (BTC) and the broader crypto market are at risk of a further downtrend following a recent development involving the US and German governments. On-chain data suggests that both governments are looking to offload a substantial amount of their BTC holdings. US Government Send $240 Million In Bitcoin To Coinbase Prime On-chain analytics platform Arkham […]
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El Salvador, the country that made bitcoin legal tender alongside the U.S. dollar, has purchased more bitcoin. The Salvadoran government now holds 700 coins, according to President Nayib Bukele. El Salvador Buys the Dip El Salvador’s president, Nayib Bukele, announced early Monday morning that his government has purchased 150 more bitcoins. The country’s bitcoin law went into effect on Sept. 7 making the cryptocurrency legal tender alongside the U.S. dollar. He tweeted: “We just bought the dip. 150 new coins! El Salvador now holds 700 coins.” “They can....
Amidst waves of concern surrounding the sale of Bitcoin by the US and German governments, industry experts have come forward to dispel fears, suggesting that these moves could be bullish for the market. Yesterday, the Bitcoin sector experienced heightened volatility following actions by two major governments. The German Federal Criminal Police (BKA) continued with its sales of Bitcoin, reducing its holdings from 50,000 BTC to 45,264 BTC. Concurrently, the US government transferred 4,000 BTC to Coinbase, likely aiming for liquidation, retaining a substantial 213,546 BTC in its reserves. Why....
The German government has recently begun selling millions of dollars worth of Bitcoin (BTC) from a confiscated wallet, further contributing to the lack of catalysts for a price recovery in the cryptocurrency market. The move comes as increased selling activity and unprecedented selling by long-term BTC whales have led to a sharp price correction, preventing Bitcoin from consolidating above $70,000 and retesting its previous all-time high. Whales And German Government Fuel Market Volatility According to blockchain analysis platform Arkham, the German government has initiated the process of....
El Salvador President Nayib Bukele announced the country bought another 80 BTC, resulting in a total treasury of 2,381 BTC valued around $46.1 million.
President Nayib Bukele tweeted that El Salvador has bought the dip, adding 150 Bitcoin to its coffers to give a cumulative holding of 700 tokens. We just bought the dip. 150 new coins! El Salvador now holds 700 coins.#Bitcoin🇸🇻 — Nayib Bukele 🇸🇻 (@nayibbukele) September 20, 2021 Buying the dip during fearful sell-offs is a […]