The German government-labeled wallet held 50,000 BTC since February and moved out 6,500 BTC on June 19.
A crypto wallet labeled “German Government (BKA)” by the crypto onchain analytics firm Arkham started moving Bitcoin on June 19, sparking curiosity among the community. The wallet movements have led many to believe the German government is selling its BTC holdings.
According to Arkham data, the crypto wallet has held nearly 50,000 Bitcoin (BTC) since February 2024, before moving nearly 6,500 BTC on June 19. The funds are believed to have been seized from the pirated movie website operator Movie2k.
The German government-linked wallet made four transactions on June 19, with one outflow of 6,500 BTC worth over $425 million to a wallet address “bc1q0unygz3ddt8x0v33s6ztxkrnw0s0tl7zk4yxwd” and another of 2,500 BTC worth $154 million to its own address.
