In a surprising move, the German government has repurchased 1,915 Bitcoins valued at $111.5 million from major exchanges such as Kraken, Bitstamp, and Coinbase.
This acquisition marks a significant shift from the recent trend of Bitcoin sales that had previously caused market volatility. The purchase was confirmed by data from Arkham Intelligence, highlighting the government’s strategic reversal.
Justin Sun, founder of Tron, has suggested engaging in negotiations with the government to mitigate any potential market disruptions caused by such large-scale transactions. The unexpected buyback has sparked speculation and renewed optimism among Bitcoin investors globally, following weeks of uncertainty due to the government’s earlier sales.
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