Data from on-chain statistics platform Arkham shows that national governments including Germany, the US and the UK still hold large amounts of Bitcoin in wallets.
German member of parliament Joana Cotar said the mass Bitcoin sell-off is not sensible as it could be used to diversify treasury assets and protect against currency devaluation.
Mt. Gox announces BTC and BCH repayments on July 5, 2024, potentially flooding the market with over $8 billion in assets, intensifying negative sentiment.