Bitcoin Transactions to Kraken and Coinbase
The German Federal Criminal Police Office (BKA) recently transferred 900 Bitcoin to Kraken, Coinbase, and an untagged wallet. This move involved sending $24 million in bitcoin in two transactions to the Kraken and Coinbase exchanges. Additionally, 500 BTC worth $30.4 million was moved to an untagged address labeled “139Po.” These transfers come after previous transactions totaling $195 million were sent to exchanges in June.
Impact of Bitcoin Seizure from Movie2k.to
The BTC seized from operators of the film piracy website Movie2k.to, valued over $2 billion at the time, was transferred to the BKA. Speculation surrounds the purpose of this transfer, with theories suggesting a potential sale of Bitcoin or a strategy to diversify assets across exchanges. Germany currently holds 46,359 BTC, making it one of the largest nation-state holders of Bitcoin globally.
German Government’s Cryptocurrency Holdings
The recent Bitcoin transactions by the BKA add to the significant movements seen in the past weeks. With ownership of 46,359 BTC worth approximately $2.8 billion, Germany ranks among the top nation-state holders of Bitcoin, trailing behind the United States, China, and the UK.
