Analysis: MicroStrategy’s BTC purchases offset German government selling pressure
Odaily2024/06/22 01:06
By:Odaily
Odaily News Some analysts believe that the German governments massive selling of
Bitcoin is the reason for the downturn in the
cryptocurrency
market. In addition, traders are worried that the stock market may have peaked and the US fiscal situation is weakening. According to previous monitoring by Arkham, an on-chain
crypto analysis company, a wallet associated with the German government transferred 6,500 BTC to the exchange on June 19, which was worth $425 million at the time. The wallet held nearly 50,000 BTC, which was allegedly seized from Movie2k, a pirated movie website operating in 2013. Data showed that these BTC were sent to Kraken, Bitstamp and Coinbase. However, MicroStrategys purchases offset the selling pressure because MicroStrategy disclosed that it had purchased an additional 11,931 BTC for $786 million. (Cointelegraph)
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!
You may also like
BlackRock Bitcoin ETF Sees Massive $970M Inflow
BlackRock's Bitcoin ETF adds 10,360 BTC, its second-largest inflow since launch, boosting crypto market confidence.BlackRock Strengthens Bitcoin HoldingsInstitutional Interest Keeps GrowingWhat This Means for Crypto Investors
Coinomedia•2025/04/29 08:11

BNB breaks above $610
Cointime•2025/04/29 08:01
1inch announces expansion to Solana
Cointime•2025/04/29 08:01
DOJ seeks 20-year prison sentence for Celsius founder
Cointime•2025/04/29 08:01
Crypto prices
More
Bitcoin
BTC
$95,007.59
+0.18%

Ethereum
ETH
$1,830.48
+1.09%

Tether USDt
USDT
$1
-0.02%

XRP
XRP
$2.29
-2.13%

BNB
BNB
$608.29
+0.23%

Solana
SOL
$149.2
-1.70%

USDC
USDC
$1
-0.01%

Dogecoin
DOGE
$0.1796
-1.10%

Cardano
ADA
$0.7140
-1.66%

TRON
TRX
$0.2476
+0.37%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new Bitgetters!
Sign up now