Germany Sells Bitcoin Worth IDR 3.5 Trillion, Still Maintains Reserves Of IDR 21 Trillion

Germany sells Bitcoin worth IDR 3.5 trillion (Photo; Doc. Cryptofacil)

JAKARTA - The German government has just sold 3,840 BTC worth 220.7 million US Dollars (around Rp3.5 trillion), but still maintains reserves of 1.3 billion US Dollars (around Rp21 trillion) in Bitcoin. This sale was made in a short period of time from 8 July afternoon to 9 July afternoon local time.

According to the latest onchain data, the German government wallet currently still has 22,846 BTC after several transfers and deposits over the past 19.5 hours. Arkham Intelligence revealed on platform X that the wallets interact with Kraken, Cumberland, and an unknown wallet that may belong to an over-the-counter (OTC) provider or market maker. Arkham also noted that these wallets received about 5,366 BTC from Kraken, Coinbase, and Bitstamp.

There is speculation that the German government sets a reserve price for every Bitcoin batch sold, and if the reserve price is not achieved, the BTC is returned. Quoted from Bitcoin.com News, Vaneck Executive Gabor Gurbacs, noted on platform X that Bitcoin has remained resilient throughout the process.

The German government liquidated nearly 1 billion US dollars in Bitcoin (17,000 BTC) in one day. The price is barely moving 2%. This is called the adult market. Only a few understand, "said Gurbacs.

Despite massive liquidation, Bitcoin price stability shows a mature and robust trading environment. BTC rose 3.9% in the past day and is close to the range of 58,000 US Dollars (around Rp942 million) again. This episode highlights the effectiveness of the reserve price setting strategy and the increasing role of institutional players, which reinforces confidence in Bitcoin's long-term sustainability.

The large sale by the German government is not only testing the resilience of the Bitcoin market, but also showing how the crypto market is becoming more stable despite the significant liquidation pressure. This is a positive sign for investors and market players who see Bitcoin's long-term potential.