{"id":236163,"date":"2024-06-25T13:15:19","date_gmt":"2024-06-25T13:15:19","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/06\/25\/german-government-moves-millions-in-bitcoin-to-exchanges\/"},"modified":"2025-06-25T17:16:14","modified_gmt":"2025-06-25T17:16:14","slug":"german-government-moves-millions-in-bitcoin-to-exchanges","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/06\/25\/german-government-moves-millions-in-bitcoin-to-exchanges\/","title":{"rendered":"German Government Moves Millions in Bitcoin to Exchanges"},"content":{"rendered":"

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The German<\/a> government has transferred millions in seized Bitcoin to major Bitcoin and crypto exchanges Kraken and Coinbase, according to blockchain analysis firm Arkham.<\/p>\n

The transfers originated from a wallet connected to the German Federal Criminal Police Office (BKA). In 2013, the BKA seized almost 50,000 Bitcoin, from a film piracy website.<\/p>\n

On Tuesday, the BKA wallet moved $24 million in Bitcoin across two transactions to Kraken and Coinbase. An additional $30 million in Bitcoin was sent to an unknown wallet not affiliated with an exchange.<\/p>\n

Arkham data shows<\/a> that these transfers follow previous movements of $195 million in Bitcoin to exchanges on June 19 and 20. Over $425 million has been shifted in the past week.<\/p>\n

While the German government still holds the majority of the seized Bitcoin, the transfers to exchanges<\/a> may signal an intent to liquidate some of the assets.<\/p>\n

Selling government-held Bitcoin introduces potential downward price pressure. However, the amounts moved so far represent a relatively small portion of daily Bitcoin trading volume.\u00a0<\/p>\n

Nonetheless, Bitcoin dipped below $60,000 on Tuesday amid this news. The German government’s Bitcoin wallet still holds over 46,000 Bitcoin worth nearly $3 billion.\u00a0<\/p>\n

For German police, the Bitcoin seized from illegal activities has dramatically increased in value. Selling even a fraction provides an unexpected windfall. However, concerns about potential impacts on the broader Bitcoin market remain.<\/p>\n

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[ad_1] The German government has transferred millions in seized Bitcoin to major Bitcoin and crypto exchanges Kraken and Coinbase, according to blockchain analysis firm Arkham.<\/p>\n","protected":false},"author":1,"featured_media":236164,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[172],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/236163"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=236163"}],"version-history":[{"count":0,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/236163\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/236164"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=236163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=236163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=236163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}