The German government has sold a total of $376 million worth of Bitcoin in the past 16 hours

BlockBeats news, on July 12, according to Spot On Chain monitoring, in the past 16 hours, the German government address has sold another $376 million worth of Bitcoin, including:

· Sold 10,627 Bitcoins at an average price of $57,976 (US$616 million);

· Recovered 4,169 Bitcoins at an average price of $57,469 (US$240 million).

Currently, the German government address has only 9,094 BTC (US$520 million), about 18% of the initial amount. At this rate, it may sell all Bitcoin in the next 1-2 days.