According to the information provided by the online analytics company Arkham, the German government recently stopped transferring Bitcoin (BTC) from wallets labeled “German Government (BKA)”. The wallet transfer amounted to approximately 547.5 BTC, with a valuation of around $3.009 million for Flow Traders. The remaining balance in the address after the transaction is approximately 41,226 BTC.
Flow Traders is a proprietary trading company that acts as a market maker, providing liquidity to the securities market through high-frequency, quantitative trading strategies.
According to Arkham, these funds are likely to have originated from the assets of movie2k, similar to the 50,000 BTC seized earlier this year by the Saxony Police in Germany from the operator of a piracy website.
Read more:
After the transfer of $5.4 billion worth of BTC by Mt.Gox, the price of Bitcoin fell below $2.7.
Yesterday, an additional 1,300 BTC was transferred to major cryptocurrency exchanges such as Kraken, Bitstamp, and Coinbase. Similar transfers have been occurring throughout the week.
Despite the recent actions of the German government, the intentions of Mt.Gox creditors, and the impact of the declining Bitcoin price, the market has shown a bearish trend. However, billionaire entrepreneur Sun Yuchen has proposed an interesting suggestion. He expressed willingness to purchase the Bitcoin held by the German government through over-the-counter trading in order to alleviate the negative impact on the Bitcoin (BTC) market.
