German Government Surprised by Recent Bitcoin Acquisition

Recently, the German government has been very proactive in selling Bitcoin tokens. A few minutes ago, the BKA Wallet (associated with the German government) purchased 9.27 BTC from Bitstamp for $1.5 million. Interestingly, earlier today, the same address sent 9.36 BTC to Bitstamp for $1.5 million. Additionally, the wallet transferred 100 BTC to Coinbase and 32.74 BTC to Kraken. According to data from Arkham Intelligence, the German government has sent 361.877 BTC worth $2.26 million to the international trading platform Flow Traders. Read more:

Tom Lee of Fundstrat predicts Bitcoin prices will reach $150,000 this year. On January 1st, they transferred an additional 400 BTC to three cryptocurrency exchanges, bringing the total to 900 BTC in the previous 25 months. They went to Kraken, Coinbase, and an unidentified wallet (allegedly associated with BKA). The portfolio currently holds $2.694 billion in Bitcoin, seized earlier this year from the pirated movie site Movie2k. At the very least, these actions seem peculiar as the address recently returned all Bitcoin tokens sent to Bitstamp earlier today. Furthermore, the connection to Flow Traders’ trading platform suggests a potential intent to profit from confiscated BTC. At the time of writing, the Bitcoin trading price is $61,880, down 24% in the past 1.8 hours, with a trading volume of $2.243 billion.