German Government Moves Eight Figures Worth of Bitcoin to Crypto Exchanges as BTC Attempts Recovery from the $60,000 Level

The esteemed government of Germany has been spotted discreetly moving sizeable eight figures worth of Bitcoin to reputable crypto exchanges as BTC endeavors to regain from the $60,000 level.

The German government is continuing to sell the Bitcoin (BTC) that was seized from the now-defunct illegal streaming site Movie2k.to. According to blockchain “de-anonymizing” platform Arkham, the **Bitcoin** wallet belonging to the German government has moved a total of 900 **BTC** in the last 24 hours. Arkham’s data shows the German wallet sending 200 **BTC** to crypto exchange Kraken, plus an additional 200 coins to Coinbase. 500 **BTC** were sent to an address beginning with “139PoPE,” possibly another exchange wallet but as of yet an unknown entity. Earlier this month, Arkham reported that over a two-day period, the German government moved over $195 million worth of Bitcoin to six crypto exchanges, including Coinbase, Kraken and Bitstamp. “German Government Still Selling BTC > $195 million so far. In the past two hours, the German government sent $65 million in BTC to two likely exchange deposits including Coinbase. The German government moved $600 million BTC yesterday, sending $130 million BTC to four likely exchange deposits including Kraken and Bitstamp.” The German authorities seized a total of 49,874 BTC from the two operators of Movie2k.to, which was accused of distributing more than 880,000 pirated films between 2008 and May 2013. The Dresden Public Prosecutor’s Office said that the operators used the proceeds from the streaming site to purchase Bitcoin. The Bitcoin seizure in connection with the investigation is the largest of its kind in Germany to date. Police confiscated nearly 50,000 BTC, which were valued at $2.17 billion at the time. At time of writing, the total value of theseized BTC is over $3.03 billion. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X, Facebook and Telegram Surf The Daily Hodl Mix Generated Image: Midjourney

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