Everything indicates that Germany is selling their BTC. Why such suspicions? Well, the wallet marked as “German Government (BKA) by the analytical company Arkham Intelligence arouses curiosity in the community due to its transactions. These moves have led many to believe that the German government is selling off its holdings of Satoshi Nakamoto's cryptocurrency.
Are Germans selling their BTC? Where does the government get a BTC wallet?
The fact that countries have reserves in cryptocurrencies is becoming more and more common. Of course, officially the largest owner of such cryptocurrency reserves is the capital of bitcoin adoption, i.e. El Salvador. However, this does not change the fact that individual countries around the world have their own wallets in which they keep cryptocurrencies and these funds are most often confiscated from illegal activities of criminals.
One such wallet is held by the German government, according to Arkham. This wallet contained 50,000 BTC and was created in February 2024. Most likely, these are funds that were seized from the operator of the Movie2k website, which offered pirated movies. However, the wallet balance changed on June 19, when the wallet owner transferred almost 6,500 BTC to another address. This led to suspicions that Germans were selling their BTC.
Transactions worth USD 435 and 154 million!
A wallet linked to the German government made four transactions on June 19. One of them withdrew 6,500 BTC worth over USD 435 million from the wallet, to the wallet address “bc1q0unygz3ddt8x0v33s6ztxkrnw0s0tl7zk4yxwd”. The next transfer was one for 2,500 BTC worth 2,500 BTC ($154 million) to his own address.
The wallet marked as German Government currently holds 43,359 BTC worth $2.83 billion. While not all of the transferred funds were liquidated, many people in the cryptocurrency industry commented on the potential impact of selling so much BTC. There are many entries on the X website about Germans selling their BTC. It is worth adding that governments around the world often confiscate BTC and other digital assets from criminals.
