A wallet named after Arkham Intelligence’s German Government (BKA) has an additional 6,000 bitcoin (worth $354 million) stored in preparation for the next BTC sale.
So far, 5,853.409 Bitcoin (BTC) has been sent to addresses associated with exchanges such as Coinbase, Kraken, and Flow Traders, as well as other unconfirmed or unverified addresses.
The next attempt to sell approximately $342 million worth of BTC has begun.
BTC Selling in Progress
The continued distribution of 6,000 BTC follows the previous drain of 3,100 BTC, worth $178 million at the time, on July 9.
Incidentally, the address also withdrew 1,700 BTC, worth $91.78 million, from Bitstamp, reclaiming the BTC it held and indicating it could not be sold on the exchange.
Related: German Government Prepares for Next BTC Sale Worth $276 Million
As of July 9, the holdings were estimated at around 26,000 BTC, valued at around $1.5 billion, and the linked address was used to sell funds holding 4,800 BTC.
As of July 10, the wallet held just about 18,110 BTC, valued at $1.06 billion, down more than $400 million since July 9.
This is a developing story and more information will be added as it becomes available.
