Flow

United

Bitcoin

Million

<h2 id="key-points">Key Points</h2>
<ul>
 <li>German authorities have reportedly transferred another $15.4 million in Bitcoin to crypto exchanges Bitstamp and Kraken.</li>
 <li>The German government currently holds an estimated 45,609 BTC, worth around $2.8 billion at current prices.</li>
</ul>
<p>Crypto addresses linked to German authorities seem to have transferred another 250 <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> (equivalent to $15.4 million) to Bitstamp and Kraken on Wednesday. This suggests a possible intention to sell these assets.</p>
<h2 id="transfers-to-crypto-exchanges">Transfers to Crypto Exchanges</h2>
<p>The German Federal Criminal Police Office (BKA) reportedly transferred 125 BTC ($7.7 million) to each crypto exchange around 7:52 a.m. UTC. At the same time, it also sent 500 BTC ($30.9 million) to an unidentified address “139Po.” This address could also belong to an exchange.</p>
<p>Additionally, 0.001 BTC was transferred to market maker Flow Traders by the German Government, which might have been a test transaction.</p>
<h2 id="seized-bitcoins">Seized Bitcoins</h2>
<p>The German government began sending Bitcoin to crypto exchanges last week after seizing 50,000 BTC from the film-piracy site Movie2k in January. On Tuesday, it sent 400 BTC ($24.3 million) to Coinbase and Kraken, and 500 BTC ($30.4 million) to the “139Po” address.</p>
<p>So far, around $150 million worth of the seized Bitcoin has been transferred to crypto exchanges, with a further $147 million sent to the “139Po” address.</p>
<p>However, it seems that the German government received back 310 BTC ($20.1 million) from Kraken last week. It also received a total of 90 BTC ($5.5 million) since June 20 from wallets associated with Robinhood, Bitstamp and Coinbase.</p>
<p>Germany is one of the largest known nation-state holders of Bitcoin, behind the United States, China, and the UK. The current price of Bitcoin is $61,384. The largest cryptocurrency by market cap has fallen around 6% since the German government started moving funds to exchanges last week.</p>
<p>The value of Bitcoin briefly dropped below $60,000 on Monday following the announcement that the defunct Bitcoin exchange Mt. Gox is set to distribute around $9 billion worth of Bitcoin and Bitcoin cash repayments from July.</p>

Germany Bolsters Bitstamp and Kraken with Additional $15 Million Bitcoin Allocation

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