Hey everyone! I just came across some interesting developments in the crypto space involving the German Federal Criminal Police Office (BKA) and their handling of Bitcoin. Here’s what’s going on:
BKA Transfers Bitcoin to Exchanges
Recently, the BKA has been moving significant amounts of Bitcoin, hinting at a potential sell-off. According to Arkham Intelligence, the BKA transferred 400 BTC (worth around $24 million) from their wallet labeled “German Government” to major crypto exchanges like Coinbase, Kraken, and Bitstamp. This morning, an additional 282 BTC, valued at over $17 million, were also moved.
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Background on the Bitcoin Holdings
The BKA’s Bitcoin stash, totaling almost 50,000 BTC, was originally seized by the Saxon State Criminal Police Office from suspects involved in the Movie2k.to case. In recent weeks, over 1,000 BTC have already been transferred to exchanges, adding to the selling pressure alongside similar actions by the US government.
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Impact on the Market
These moves have sparked speculation about an impending wave of Bitcoin selling, potentially affecting market prices. As of now, the BKA still holds BTC worth approximately $2.7 billion.
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Official Statements
Neither the BKA nor the Dresden Public Prosecutor’s Office has confirmed any sales yet, leaving the crypto community watching closely for further developments.
Stay tuned as we monitor this situation and its impact on the Bitcoin market!
