The German government first acquired these Bitcoin after a large-scale seizure in 2013, where the BKA confiscated almost 50,000 Bitcoin worth over $2 billion from the operators of Movie2k.to. These movements suggest a potential intention by the German authorities to liquidate some of the Bitcoin in the crackdown.
This move by Germany mirrors recent actions by the U.S. government, which also transferred millions of dollars in Bitcoin to exchanges. In both cases, the transfers have sparked significant speculation within the Bitcoin community about the potential impact on Bitcoin's market price.
Despite substantial movement, most seized Bitcoin remains under German government control, with almost 44,692 Bitcoin worth approximately $2.82 billion still held in government wallets. Recent transfers represent a relatively small portion of total holdings.
#german-government #bitcoin-transfers #market-impact #cryptocurrency-exchanges #bitcoin-market-speculation
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