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Germany Continues Bitcoin Sell-Off | Key Takeaways | July 11, 2024
General manager. Welcome back to BitPinas Key Points: Easily digestible news in concise formats for easy reading. In today’s roundup: Germany. That’s it.
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Top Stories: Germany Continues Bitcoin Sell-Off
The German government continues to sell its Bitcoin.
- On July 9, he sold 3,100 BTC worth $178 million and withdrew 1,700 BTC worth $91.78 million from Bitstamp.
What’s the meaning?:Despite some lawmakers criticizing the sale, arguing that holding Bitcoin could lead to long-term price appreciation in the future, Germany appears intent on liquidating all of its Bitcoin.
The numbers:
- Government primary address: 26,000 BTC (~$1.5 billion)
- Selling address: 4,800 BTC (~$276.61 million)
- Recent sales: 2,500 BTC to B2C2 Group, 400 BTC to Kraken, 200 BTC to an unknown wallet
These are the latest data before the article was published:
However:Despite these sell-offs, BTC has shown resilience, with its price recovering from recent lows, demonstrating continued confidence among buyers.
What to watch: The German sell-off is just one of many factors contributing to the current price of Bitcoin. Be sure to also watch for any statements from the Federal Reserve, US elections, and ETFs, among others.
Philippine Cryptocurrency News 🇵🇭
- YGG Guild Advancement Program Season 6 start.
- YGG’s Manila Roadtrip event will also be held on July 14.
- Community Call Baguio is co-hosted by cryptocurrency-focused entities Bitshares Lab, Superteam Philippines, Klaytn, Kaia, Crypto Warriors, and CoinEx.
- Participants include professionals and students from Cordillera University, Saint Louis University, and Baguio College of Technology.
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Regulation Watch 📜
Stay informed about the latest regulatory developments and what they mean for you:
- BitMEX Cryptocurrency Exchange plea guilty of violating the US Bank Secrecy Act from 2015 to 2020.
- Payeer Cryptographic Payment Service AND fined $10 million after authorizing transfers to authorized banks.
- Nigeria AND urging its securities regulator to address the challenges of cryptocurrency regulation.
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Web3 Gaming Section 🎮
The future of web3 is gaming: here are the latest news.
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Event Announcements 📅
Do not get lost: Upcoming events, webinars and meetups in the cryptocurrency world!
Noteworthy 🌟
Key updates and announcements from the world of cryptocurrency and blockchain:
- Donald Trump double on the pro-crypto pivot.
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- Crypto Funds See inflows for the first time in a month.
- ETH ETF Fees question for investors?
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This article is published on BitPinas: Germany Continues Bitcoin Sell-Off | Key Takeaways | July 11, 2024