The large-scale Bitcoin (BTC) transactions initiated by a wallet labeled as “German Government (BKA)” by the online analytics company Arkham have caught the attention of the crypto community.
It is speculated that the German government may be liquidating some of its Bitcoin holdings. The wallet transferred approximately 6,500 BTC, worth around $42.55 billion, with the address balance prior to the transaction being approximately 50,000 BTC.
According to Arkham, these funds are likely to originate from the assets of movie2k, just like the ones discovered earlier this year by the Saxony police in Germany, which seized 50,000 BTC from the operators of the piracy website.
The German government is now in possession of nearly 50,000 BTC ($2.12 billion) from the operator, as revealed by the Federal Criminal Police Office (BKA) of Germany. The BKA received the Bitcoin from the operator in mid-January after “voluntary…” measures.
Yesterday, the German government’s wallet carried out three significant transactions. Initially, 6,500 BTC was sent to an address labeled “BC1q0”, followed by 2,359 BTC transferred to its own address.
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Subsequently, the wallet “BC1q0” moved 2,500 BTC to another address, “BC1QQ”. Then, he distributed 500 BTC to various recipients, including cryptocurrency exchanges Kraken and Bitstamp, as well as two unknown addresses.
Despite these transactions, the main wallet still holds 43,359 BTC, valued at approximately $283 million. Interestingly, only 1,000 BTC were transferred to centralized exchanges, presumably for selling purposes.