Germany and the US are seemingly competing for who can spook bitcoin markets more.

Addresses linked to German and US governments have recently sent $737.6 million in bitcoin to exchanges including Coinbase, Bitstamp and Kraken, as well as some to OTC desk operator-slash-market maker Flow Traders.

Germany makes up about three-quarters of that total, with its deposits spread across 30 different transactions — usually in the morning around 9 am local time. 

While it’s unclear whether all the bitcoin was actually sold (a portion has since been returned to the original addresses), Germany’s transfers to exchanges are believed to be the first ever, at least going by Arkham Intelligence…

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