You can also find out more about the following: German According to Arkham, a blockchain-analysis firm, the government transferred Bitcoin worth millions to Coinbase and Kraken.
The transactions originated from a digital wallet linked to the German Federal Criminal Police Office. In 2013, BKA seizes almost 50,000 Bitcoins, which were seized from a website that pirated films.
Two transactions were made by the BKA wallet on Tuesday to Kraken Coinbase. Another $30 million of Bitcoins was sent to a non-affiliated wallet.
Arkham data shows This transfer follows previous transfers of $195 in Bitcoins to exchanges, which took place on the 19th and 20th June. In the last week, over $425 million was transferred.
Although the German government holds most of the Bitcoin seized, transfers from exchanges It may indicate an intention to sell some assets.
The potential for downward pressure on prices is introduced by the sale of government-held Bitcoin. But the amount of Bitcoin traded so far represents a very small percentage.
Bitcoin fell below $60,000. Despite this, Bitcoin dropped to $56,000 on Tuesday. German Government’s Bitcoin Wallet still has over 46,000 Bitcoins worth almost $3 billion.
The value of Bitcoins seized in illegal activity has risen dramatically for German police. Even a small fraction can bring an unexpected windfall. Concerns remain about the potential impact on the Bitcoin market.
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Source: bitcoinmagazine.com
