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German Government Transfers 6,500 BTC Worth $425M to Kraken and Bitstamp
Jun 19, 2024, 02:39 PM
The German government has reportedly transferred approximately 6,500 Bitcoins, valued at around $425 million, from a crypto wallet identified by Arkham Intelligence as belonging to the German government BKA on June 19. These Bitcoins were seized from the operator of the pirated movie website Movie2k. The transactions included moving 1,000 BTC to Kraken and Bitstamp exchanges, worth about $65.14 million. Despite these transfers, the German government still holds nearly 47,859 BTC, worth about $3.1 billion. This move has raised questions about the government's intentions with these assets. The wallet has held nearly 50,000 BTC since February 2024.
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