Bitcoin transfer from the Federal Criminal Police Office
The Federal Criminal Police Office (BKA) has transferred another 1,500 Bitcoin worth nearly $95 million to exchanges such as Bitstamp, Coinbase and Kraken. Since June 19, the German government has moved about $220 million worth of Bitcoin to various exchanges. These Bitcoins were originally seized in 2013 from Movie2k.to, a movie piracy website, and at the time amounted to nearly 50,000 Bitcoin, which would be worth over $2 billion today.
Possible plan of the German authorities
The current transfers indicate a possible plan by the German authorities to liquidate (convert into money) some of their Bitcoin holdings, which is in line with the US government's approach. This development has sparked speculation within the Bitcoin community about its potential impact on the market. Despite these transfers, the German government continues to control approximately 44,692 Bitcoin, worth around $2.82 billion. However, how the market will react to these moves remains uncertain.
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