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Germany Continues Moving Its Bitcoin, $17.6 Million Towards Various Exchanges

germany bitcoin

TL;DR

  • Germany’s BKA has recently transferred 100 BTC to Coinbase, 150 BTC to Bitstamp. And 32.74 BTC to Kraken on July 2, totaling approximately $17.6 million.
  • Germany seized nearly 50,000 BTC from Movie2k. A movie piracy site, valued at over $3 billion.
  • The country holds 43,859 BTC valued at approximately $2.7 billion. Positioning it among the top state-level holders of BTC.

The German Federal Criminal Police Office (BKA) has continued to transfer seized Bitcoin to various exchanges as part of its digital asset management strategy. Recently, the BKA sent 100 BTC, equivalent to approximately $6.2 million, to Coinbase, 150 BTC valued at $9.4 million to Bitstamp, and 32.74 BTC, approximately $2 million, to Kraken on July 2, according to reports from the on-chain analysis firm Arkham.

These transfers are a continuation of a process initiated last month following the confiscation of 50,000 BTC from the Movie2k movie piracy site earlier this year. In total, the transactions amount to approximately $17.6 million in BTC deposited across different exchanges.

Germany has opted for a multifaceted strategy to manage the seized BTC. In addition to direct sales through services like market maker Flow Traders, significant inflows of Bitcoin from exchanges such as Kraken, Bitstamp, and Coinbase have been observed, indicating repurchases or strategic management movements.

bitcoin bka germany

Germany Holds Nearly 44,000 Bitcoin

Germany maintains a robust position as a holder of Bitcoin at the national level. Currently holding 43,859 BTC valued at approximately $2.7 billion. This significant amount places the country among the leading nations in terms of BTC holdings. However, it remains considerably behind the United States, China, and the United Kingdom in volume terms.

The impact of the ongoing sales by the BKA coincides with a period of slight fluctuation in the crypto market. Since they began on June 18, Bitcoin has lost a substantial portion of its value. Dropping from around $65,000 to the current $62,300. The financial community and analysts closely monitor the BKA’s movements, assessing how the German government’s liquidation strategies could influence BTC price dynamics globally.

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