Deutsche Regierung transferiert Millionen Euro in Bitcoin.

German government transfers millions of euros into Bitcoin.

Bitcoin transfer to crypto exchanges

The German government has transferred millions of seized Bitcoin to major crypto exchanges Kraken and Coinbase. These transfers, which originated from a wallet linked to Germany's Federal Criminal Police Office (BKA), include $24 million sent to the exchanges, as well as an additional $30 million to an unidentified wallet. This follows a previous movement of $195 million in Bitcoin on June 19 and 20. This brings the total Bitcoin transfers to over $425 million in the past week.

Possible sale of Bitcoin assets

Although the government is keeping the majority of the seized bitcoin, these transactions indicate a possible plan to liquidate some of these assets. Selling such bitcoin could put downward pressure on the price, which has already fallen below $60,000 on the news. The wallet still holds over 46,000 bitcoin, worth nearly $3 billion, which has increased significantly in value since its seizure in 2013.

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