{"id":27684,"date":"2025-05-20T13:32:42","date_gmt":"2025-05-20T13:32:42","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=27684"},"modified":"2025-05-20T13:32:42","modified_gmt":"2025-05-20T13:32:42","slug":"german-govt-missed-out-on-2-3b-profit-after-selling-bitcoin-at-57k","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=27684","title":{"rendered":"German gov\u2019t missed out on $2.3B profit after selling Bitcoin at $57K"},"content":{"rendered":"
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\"German<\/p>\n

The German government missed out on more than $2 billion worth of Bitcoin profit after selling its holdings in 2024, according to blockchain intelligence firm Arkham.<\/p>\n

A \u201cGerman Government (BKA)<\/a>\u201d labeled cryptocurrency wallet sold 49,858 Bitcoin (BTC)<\/a> worth over $2.89 billion at an average price of $57,900 across multiple transactions<\/a> during June and July in 2024.<\/p>\n

The decision to sell the Bitcoin early cost the German government over $2.35 billion, according to crypto intelligence platform Arkham.<\/p>\n

\"German
Source: <\/em>Arkham<\/em><\/a>\u00a0<\/em>
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\u201cIf they had held it, their BTC would now be worth $5.24B,\u201d Arkham said<\/a> in a May 19 X post, noting that Bitcoin has risen more than 80% since the sale.<\/p>\n

At the time of publication, Bitcoin was trading at more than $104,700, according to CoinMarketCap data. <\/p>\n

Related: <\/strong><\/em>Justin Sun offers to buy German gov\u2019t\u2019s $2.3B Bitcoin stack to minimize market impact<\/strong><\/em><\/a><\/p>\n

The German government-labeled wallet first raised speculation of a potential sell-off<\/a> on June 19, 2024, when it executed a 6,500 BTC transfer worth over $425 million.<\/p>\n

The wallet originally held around 50,000 BTC, believed to have been seized from the operators of Movie2k, a now-defunct pirated film site.<\/p>\n

Related: <\/strong><\/em>Bitcoin bottom signal? German gov\u2019t runs out of BTC to sell<\/strong><\/em><\/a><\/p>\n

German government rushed sale to maximize liquidity<\/h2>\n

The wallet\u2019s selling patterns point to hasty transactions that weren\u2019t optimized for the smallest market impact and best profitability, according to Miguel Morel, founder of Arkham Intelligence.<\/p>\n

\u201cThe last thing I would have expected is that they would just go to five different exchanges and start market selling,\u201d Morel told Cointelegraph during an interview at EthCC 2024, adding:<\/p>\n

\u201cThe fact that they\u2019re going to so many different exchanges just reads like they\u2019re just trying to get as much liquidity from each order book as possible[…]\u201d<\/p><\/blockquote>\n

The reports surrounding the German government\u2019s Bitcoin liquidations may have contributed more to Bitcoin\u2019s downtrend than the volume of sold Bitcoin.<\/p>\n

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BTC\/USDT, 1-month chart. Source: CoinMarketCap<\/em><\/figcaption><\/figure>\n

Bitcoin\u2019s price recovered above the $60,000 psychological mark on July 14, a day after the German government-labeled wallet ran out of BTC, putting an end to investor uncertainty about further selling pressure.<\/p>\n