Bitcoins Price Drop Onchain Data Suggests German Government May Be Liquidating 50000 Bitcoin Seized

Bitcoins Price Drop Onchain Data Suggests German Government May Be Liquidating 50000 Bitcoin Seized

Bitcoins Price Drop Onchain Data Suggests German Government May Be Liquidating 50000 Bitcoin Seized

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German Government Liquidates Bitcoin Seized
Asset Seizures by Governments Worldwide Pose a Hidden Risk of Dumping
According to Cointelegraph, a cryptocurrency wallet labeled as “German Government (BKA)” by the blockchain intelligence company Arkham transferred Bitcoin for the first time on June 19th, leading many to believe that the German Government may be selling its seized Bitcoin.
It is understood that these Bitcoin were seized by the German police in a raid in January this year from a pirate movie group, totaling up to 50,000, making it the largest amount of cryptocurrency assets seized by Germany to date. According to Arkham’s data, the German Government’s cryptocurrency wallet, which holds these ill-gotten gains, transferred nearly 6,500 Bitcoin on June 19th for the first time.
On June 19th, the German Government-related wallet conducted four transactions, one of which was a transfer of 6,500 BTC worth over $425 million to the wallet address “bc1q0unygz3ddt8x0v33s6ztxkrnw0s0tl7zk4yxwd,” while another transaction worth $154 million was transferred to the German Government’s own address.
The wallet address that received the 6,500 Bitcoin then transferred 2,500 Bitcoin to another wallet address “bc1qq0l4jgg9rcm3puhhfwaz4c9t8hdee8hfz6738z.” Subsequently, the funds received by this wallet address were divided into four outgoing transactions. Two of the transactions flowed into cryptocurrency exchanges Kraken and Bitstamp, while the other two transactions were transferred to unmarked private addresses.


The wallet labeled by the German Government currently holds 43,359 Bitcoin, worth $2.83 billion.
The amount of Bitcoin confiscated by governments worldwide is a potential risk that cannot be ignored in the cryptocurrency market. In addition to the German Government, the US Government has also seized a large amount of Bitcoin from cases such as the Bitfinex hack and Silk Road. According to data from bitcointreasuries, the US Government currently holds a total of approximately 207,000 Bitcoin, with a total value of around $13.5 billion.