German Governments Astonishing 425 Billion Bitcoin Transaction Sends Shockwaves through the Market

The large Bitcoin (BTC) transaction initiated by a wallet labeled as “German Government (BKA)” by online analytics company Arkham has caught the interest of the crypto community. It is speculated that the German government may be liquidating a portion of its Bitcoin holdings. The wallet transferred approximately 6,500 BTC, worth about $42.55 billion, and had a balance of about 50,000 BTC before the transaction. According to Arkham, these funds are likely derived from assets related to movie2k, similar to the 50,000 BTC confiscated from the operator of a pirate website discovered by the Saxony State Police earlier this year. The German government is now in possession of nearly 50,000 BTC ($2.12 billion) obtained from the operator. BKA received the Bitcoin from the operator in mid-January following a voluntary action. Yesterday, the German government’s wallet conducted three significant transactions. Initially, 6,500 BTC was sent to an address labeled “BC1q0,” followed by 2,359 BTC being transferred to its own address. Read more:

This could be the creator of a new cryptocurrency related to Donald Trump. Subsequently, the wallet “BC1q0” moved 2,500 BTC to another address, “BC1QQ.” He then distributed 500 BTC each to various recipients, including cryptocurrency exchanges Kraken and Bitstamp, as well as two unknown addresses. Despite these transactions, the main wallet still holds 43,359 BTC, worth approximately $283 million. Interestingly, only 1,000 BTC was transferred to centralized exchanges, presumably for sale.