{"id":20866,"date":"2025-05-20T13:17:57","date_gmt":"2025-05-20T13:17:57","guid":{"rendered":"https:\/\/gold.creditcard\/german-govt-missed-out-on-2-3b-profit-after-selling-bitcoin-at-57k\/"},"modified":"2025-05-20T13:17:57","modified_gmt":"2025-05-20T13:17:57","slug":"german-govt-missed-out-on-2-3b-profit-after-selling-bitcoin-at-57k","status":"publish","type":"post","link":"https:\/\/gold.creditcard\/es\/german-govt-missed-out-on-2-3b-profit-after-selling-bitcoin-at-57k\/","title":{"rendered":"German gov\u2019t missed out on $2.3B profit after selling Bitcoin at $57K"},"content":{"rendered":"

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

Source: <\/em>Arkham<\/em><\/a>\u00a0<\/em><\/p>\n

\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>\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

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

Magazine: <\/strong><\/em>Arthur Hayes $1M Bitcoin tip, altcoins \u2018powerful rally\u2019 looms: Hodler\u2019s Digest, May 11 \u2013 17<\/strong><\/em><\/a><\/p>","protected":false},"excerpt":{"rendered":"

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. A \u201cGerman Government (BKA)\u201d labeled cryptocurrency wallet sold 49,858 Bitcoin (BTC) worth over $2.89 billion at an average price of $57,900 across multiple transactions during June and July in […]<\/p>","protected":false},"author":0,"featured_media":20867,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[9],"tags":[],"class_list":["post-20866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digital-finance"],"_links":{"self":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/posts\/20866","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/comments?post=20866"}],"version-history":[{"count":0,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/posts\/20866\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/media\/20867"}],"wp:attachment":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/media?parent=20866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/categories?post=20866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/tags?post=20866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}