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The German <\/a>government has transferred another chunk of its massive Bitcoin reserves to exchanges.<\/p>\n According to blockchain data<\/a>, the German Federal Criminal Police Office (BKA) moved roughly $75 million worth of Bitcoin across multiple transactions on July 4th. The funds were spread across exchanges, including Coinbase, Kraken, and Bitstamp.<\/p>\n This comes after the government shifted around $315 million in bitcoin to various platforms since mid-June<\/a>. Germany has offloaded over $390 million in Bitcoin in under a month.<\/p>\n In 2013, the BKA seized nearly 50,000 bitcoin linked to the former operator of the film piracy website Movie2K. The stash is estimated to be worth $2.3 billion at today’s prices.<\/p>\n The steady flow of bitcoin to exchanges signals Germany’s potential plans to liquidate portions of its reserves. This has sparked fears of impacts on Bitcoin’s market price, which dipped below $58,000 this week.<\/p>\n However, the amounts transferred so far make up a relatively small share of the BKA’s massive Bitcoin trove. After the latest movements, Germany still holds around 40,000 Bitcoin.<\/p>\n The sales mirror similar transfers by the U.S. government<\/a> in recent weeks. America also holds Bitcoin confiscated from criminal cases, prompting concerns it may be selling reserves.<\/p>\n The liquidations come as creditor repayments from Mt. Gox’s<\/a> 2014 collapse appear set to begin in July. The timing threatens to compound selling pressure on Bitcoin.<\/p>\n However, proponents argue the amounts equate to a tiny fraction of daily Bitcoin trading volumes.\u00a0<\/p>\n