YEREVAN (CoinChapter.com) — Michael Saylor, the CEO of MicroStrategy, left a cryptic message on social media, seemingly directed at the German government. Saylor’s message,
“Everyone gets Bitcoin at the price he deserves,”
comes amid significant selling operations by the German government.
German Government’s Bitcoin Sales and Buybacks Stir Market
Recently, the German government has been selling large volumes of Bitcoin, impacting market dynamics. According to reports, the German government wallet received Bitcoin for the first two days in a row at the end of business hours. Analysts suggest this might be a buyback following a sale.
The government added 3,073 BTC to their wallet yesterday, bringing their temporary balance to 27,461 BTC, equivalent to roughly $1.57 billion. This movement of large amounts of Bitcoin back and forth has created uncertainty in the market.
German Bitcoin Sales Trigger Market Volatility
These selling operations have caused the market to struggle to maintain momentum. As a result, Bitcoin’s price and overall market mood have been affected. Additionally, the German government plans another Bitcoin sale today, further intensifying the situation.
In response to these developments, some market participants seize temporary price reductions as buying opportunities. Meanwhile, others react with fear. This dual reaction highlights the market’s unpredictable nature, especially when significant volumes of Bitcoin are involved.
Right now, Bitcoin trades at $57,200.81. The market cap is approximately $1.127 trillion. Additionally, the 24-hour trading volume is $30.85 billion. The circulating supply is around 19.72 million BTC out of a maximum of 21 million BTC. However, recent price movements show a slight decline of 0.19% over the past day, reflecting ongoing market volatility.
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