The German government has moved 1,205 Bitcoins (CRYPTO:BTC) valued at $68.9 million to various addresses, including Coinbase and Bitstamp, amidst recent price fluctuations.

This transaction reduces their bitcoin holdings from 39,826 BTC to 38,621 BTC, now valued at approximately $2.22 billion.

The move comes as bitcoin's price briefly dipped to $54,296 before rebounding above $58,000.

Over the past 19 days, Germany has withdrawn around 9,238 BTC worth $528 million from its wallet.

Notably, transactions also involved other platforms like Kraken, Flow Traders, and Cumberland, with a minor test transfer to Cumberland observed.