Germany sends millions of Bitcoin to multiple wallets
The BKA, or German Federal Criminal Police Office, has transferred 900 Bitcoin to Kraken, Coinbase, and an untagged wallet.
According to Arkham data, a wallet linked to the BKA sent a total of $24 million in bitcoin in two transactions to the Kraken and Coinbase cryptocurrency exchanges in the morning hours in Europe. The total amount of Bitcoin transferred was 400 BTC. An additional 500 BTC, which is equivalent to $30.4 million, was moved to an untagged address labeled “139Po”.
These recent transfers come after $130 million in BTC was sent to exchanges on June 19 and another $65 million in BTC on June 20. The Bitcoin was seized from the operators of the film piracy website Movie2k.to and was worth over $2 billion at the time. The suspects voluntarily transferred nearly 50,000 BTC to the BKA in mid-January.
Speculation surrounds the recent BTC transfer, with some suggesting that the owner of the German wallet may be planning to sell their BTC. Others believe it could be a strategy to diversify their assets across various exchanges.
Germany currently owns 46,359 BTC, which is worth approximately $2.8 billion at current prices. This makes Germany one of the largest known nation-state holders of Bitcoin, ranked behind the United States, China, and the UK. These transactions followed significant movements by the BKA last week, with $130 million sent to exchanges on June 19 and $65 million on June 20.
