Key Takeaways
- The German government has transferred $95 million in Bitcoin to exchanges.
- These transfers are part of a larger series since June 19, totaling $220 million.
- Germany still holds about 44,692 Bitcoin, worth roughly $2.82 billion.
The German Federal Criminal Police Office (BKA) transferred 1,500 Bitcoin, valued at nearly $95 million, to multiple exchanges, including Bitstamp, Coinbase, and Kraken on Monday. This latest move adds to a series of transfers since June 19, totaling approximately $220 million in Bitcoin moved by the German government.
The BKA initially acquired these Bitcoin in 2013 after seizing nearly 50,000 Bitcoin from Movie2k.to, a film piracy website. Despite the recent transfers, the government still holds about 44,692 Bitcoin, worth roughly $2.82 billion.
The transactions have raised concerns about a potential liquidation of these assets. Similar actions by the U.S. government, which also transferred significant Bitcoin holdings to exchanges, have led to speculation within the Bitcoin community regarding possible impacts on Bitcoin’s market price.
The German government’s moves reflect a cautious approach, as the transferred Bitcoin represents a small fraction of its total holdings. The market’s reaction to these government-initiated movements is still uncertain.
