Key Takeaways
- Germany sold 49,858 Bitcoin at an average price of $57,900 in 2024.
- The missed profit from holding the Bitcoin totals $2.35 billion.
- The Bitcoin was seized from Movie2k, a defunct piracy site.
The German government forfeited a $2.3 billion gain by selling nearly 50,000 Bitcoin in mid-2024, according to blockchain analytics firm Arkham.
The government-labeled wallet, linked to the Bundeskriminalamt (BKA), sold 49,858 Bitcoin for a total of $2.89 billion, averaging $57,900 per coin in a series of transactions across June and July.
Bitcoin’s value surge
As of May 19, 2025, Bitcoin has surged over 80% since the sale, reaching above $104,700. Arkham noted that the stash would now be worth $5.24 billion had it been held.
Arkham posted on X:
If they had held it, their BTC would now be worth $5.24B.
Origin of the seized Bitcoin
The Bitcoin was originally seized from Movie2k, a now-defunct film piracy site.
Speculation over the sell-off began on June 19, 2024, when the wallet moved 6,500 BTC—then worth $425 million—to exchanges.
Criticism of liquidation method
Miguel Morel, CEO of Arkham, criticized the method of liquidation.
Morel suggested the approach indicated a rush for liquidity
He said:
The last thing I would have expected is that they would just go to five different exchanges and start market selling.
Market impact
Reports of the sale coincided with market uncertainty and may have exacerbated downward price movement.
However, Bitcoin rebounded above $60,000 on July 14, shortly after the wallet was emptied, helping restore market confidence.
