Germany Stores $2.83 Billion in Bitcoin: Arkham Analysis
Date: 2024-06-21 Author: Gabriel Deangelo Categories: IN WORLD
According to the latest data from analytics platform Arkham Intelligence, the German government owns a significant supply of Bitcoin. On June 19, 2024, 6,500 BTC were moved, which caused interest and a wave of discussion in the crypto community.
Transactions and Movements
In January 2024, Arkham Intelligence analysts identified an address that held almost 50,000 BTC belonging to the German government. On June 19, approximately 6,500 BTC were withdrawn from this address, which at that time was approximately $425 million. This address had not shown any activity for several months before this move.
It is believed that most of these funds were confiscated from the operator of the pirate site Movie2k. After withdrawing 6,500 BTC to the address bc1q0unygz3ddt8x0v33s6ztxkrnw0s0tl7zk4yxwd, the government transferred 2,500 BTC (about $154 million) to another wallet - bc1qq0l4jgg9rcm3puhhfwaz4c9t8hdee8hfz6738z.
Further Movements of Funds
Four transactions of 500 BTC each were made from this address. 1,000 BTC were transferred to two unknown addresses, and another 1,000 BTC to crypto wallets associated with the Kraken and Bitstamp exchanges. At the time of writing, there are 43,359 BTC remaining in the German government's main wallet, which is approximately $2.83 billion.
The crypto community has been actively discussing these movements and the possible consequences of selling such a large supply of bitcoins. One of the traders suggested that the fall in the price of Bitcoin could be due to the sale of assets by the German government.
Context and Examples from World Practice
Governments around the world regularly confiscate crypto assets from criminal groups. For example, the US authorities own more than 217,000 BTC and have already sold a significant part of the funds received as part of the Silk Road platform case.
The UK government is also a major holder of Bitcoin. According to Arkham, it has 61,245 BTC on its balance sheet, which is almost $4 billion.
The movements of Bitcoins owned by the German government are generating significant interest and speculation in the crypto community. Questions about future plans for the use or sale of these assets remain open, and any actions could significantly affect the cryptocurrency market.
Government activity in the cryptocurrency space continues to grow, with events such as the movement of large amounts of Bitcoin attracting the attention of both specialists and the general public. It is important to monitor developments and analyze the consequences for the global cryptocurrency market.
