German Government Moves Another $15 Million in Bitcoin to Bitstamp And Kraken
On June 26, a wallet address reportedly under the control of the German Federal Criminal Police Office (BKA) transferred 250 BTC ($15.4 million) – marking another instance of the German government engaging in Bitcoin transactions.
This move is part of a larger series of transfers following the seizure of 50,000 BTC from the film piracy site Movie2k in January. This recent activity offers further insight into the German government’s handling of the seized Bitcoin.
According to on-chain analytics provider Arkham, the German authorities sent 125 BTC, worth $7.7 million, to both Bitstamp and Kraken.
Additionally, they transferred 500 BTC, valued at $30.9 million, to an unidentified address labeled “139Po,” which is possibly another exchange.
The German Government transferred 750 $BTC($46.35M) out again, of which 250 $BTC($15.41M) was transferred to #Bitstamp and #Kraken.
German Government currently holds 45,609 $BTC($2.81B).
The German Government also transferred 0.001 $BTC to Flow Traders, which may be a test… pic.twitter.com/F0CFUDPQoP
— Lookonchain (@lookonchain) June 26, 2024
These transfers followed a day after the German authorities moved 400 BTC, valued at $24.3 million, to Coinbase and Kraken on June 25.
This activity is part of a broader trend that started last week. The German government has transferred approximately $150 million worth of seized Bitcoin to known exchange addresses, in addition to $147 million sent to the “139Po” address.
Despite these transfers, the government still holds a substantial amount of 45,609 BTC, valued at approximately $2.8 billion.
Earlier this month, the German authorities received 310 BTC, worth $20.1 million, from Kraken and smaller amounts totaling 90 BTC, worth $5.5 million, from Robinhood,
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