This month the German BKA, Federal Criminal Police, made another significant move. Yes, everyone is paying attention. They have accelerated their crypto liquidation. They transferred 1500 Bitcoin (BTC) Crypto exchanges have been able to generate approximately 95 million dollars. All of this happened on one single day.
This transaction is part a larger series that began June 19, 2018. Bitcoin valued at around $220 million was transferred between exchanges.
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German Government Continues Bitcoin Liquidation
Exchanges received 1500 BTC (95 millions). These include Bitstamp Coinbase Kraken. Multiple exchanges can also be used to reduce the impact on markets. It will also, naturally, ensure a smooth liquidation.
The German government has developed a carefully-planned liquidation plan for 2023. This isn’t an isolated event. German authorities have moved Bitcoin in large amounts over the last couple of weeks.
Germany has 44.692 BTC in the government wallets (roughly 2,82 billion). These sums, yes, represent a small fraction of Germany’s holdings since the seizure in 2013. This large balance is proof that German authorities take this issue seriously.
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Seized Bitcoin Background
Bitcoins are a result of BKA’s large-scale confiscation in 2013 when it seized nearly 50,000 BTC that belonged to the owners of Movie2k.to – a popular film piracy site. Bitcoin’s value was over $2 billion at that time.
Please Read BTC Bitcoin Will Hit New All-Time High if This Happens
Global Context
Germany appears to have adopted the U.S. Government’s transfer strategies. The transfers may create an opportunity for selling. Analysts are therefore paying attention.
The cryptocurrency community has been speculating about these BTC transfers, and other similar government actions. This is because the impact of Bitcoin’s price on the market adds intrigue. This will also affect the engagement with the current developments on the crypto market.
We find it very intriguing to watch the reaction of the markets to these large changes. This situation is very interesting.
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Source: watcher.guru
