“The German Federal Criminal Police Office (BKA) made another significant move on Monday, transferring an additional 1,500 Bitcoin valued at nearly $95 million to several crypto exchanges, including Bitstamp, Coinbase, and Kraken.
This follows a series of transactions starting from June 19, where the German government has transferred approximately $220 million worth of Bitcoin to various exchanges, according to data from Arkham.
The Bitcoin in question were originally seized by the BKA in 2013, totaling nearly 50,000 Bitcoin valued at over $2 billion, from the operators of Movie2k.to, a prominent film piracy website at the time.
These recent transfers indicate a potential strategy by German authorities to liquidate a portion of their Bitcoin holdings.
This move parallels actions taken by the U.S. government, which has also moved substantial sums of Bitcoin to exchanges, possibly signaling an intent to sell. Both instances have sparked considerable speculation within the Bitcoin community regarding potential impacts on the market price.
Despite these movements, the majority of the seized Bitcoin, approximately 44,692 Bitcoin valued at around $2.82 billion, remain under German government control. Thus, while significant, these recent transfers represent only a fraction of the total holdings.
As the situation develops, the response of the Bitcoin market to these governmental actions remains uncertain.”
