The German Federal Criminal Police Office (BKA) has made a significant move in the world of cryptocurrency, transferring 900 Bitcoin to various wallets including Kraken, Coinbase, and an untagged address. This transfer, totaling $54.4 million, has raised eyebrows and sparked speculation about the intentions behind the move.
The BKA sent 400 BTC to both Kraken and Coinbase, two popular cryptocurrency exchanges, in the early hours of the morning in Europe. Additionally, 500 BTC was transferred to an untagged address labeled “139Po.” This comes on the heels of previous transfers by the BKA, with $130 million sent to exchanges on June 19 and $65 million on June 20.
The Bitcoin in question was seized from the operators of the film piracy website Movie2k.to, with the suspects voluntarily transferring over $2 billion worth of BTC to the BKA in mid-January. This recent transfer has led to speculation about whether the German government is looking to sell their BTC or diversify their assets across different exchanges.
Germany currently holds 46,359 BTC, making it one of the largest known nation-state holders of Bitcoin behind the United States, China, and the UK. With these recent transactions, the BKA is making waves in the cryptocurrency world and raising questions about their future plans for their substantial Bitcoin holdings.
