German Government Sends Another $15 Million in Bitcoin to Arkham: Transactions Via Bitstamp and Kraken

Arkham Receives $15 Million Bitcoin from German Government: Processed Through Bitstamp and Kraken

Crypto News- Recent transactions indicate potential asset sales as German authorities transfer significant amounts of Bitcoin to exchanges Bitstamp and Kraken.

Overview of Transactions

On Wednesday morning, crypto addresses associated with German authorities transferred 250 BTC (approximately $15.4 million) to Bitstamp and Kraken. This move, observed by blockchain analytics provider Arkham, suggests a strategic approach to liquidating seized assets.

• The German Federal Criminal Police Office (BKA) conducted transactions:
  • Sent 125 BTC ($7.7 million) to each of Bitstamp and Kraken around 7:52 a.m. UTC.
  • Additionally, transferred 500 BTC ($30.9 million) to the address “139Po,” whose owner remains unidentified.

Government’s Approach to Asset Management

Following the seizure of 50,000 BTC from Movie2k in January, German government-labeled addresses have been active in transferring Bitcoin to crypto exchanges. This activity commenced last week and intensified recently.

• Recent Transactions:
  • Tuesday’s transfers included 400 BTC ($24.3 million) to Coinbase and Kraken, alongside 500 BTC ($30.4 million) to the address “139Po.”
  • Over $150 million worth of seized Bitcoin has now been transferred to exchanges, with an additional $147 million to the “139Po” address.
  • Recent returns included 310 BTC ($20.1 million) from Kraken last week and 90 BTC ($5.5 million) from wallets associated with Robinhood, Bitstamp, and Coinbase since June 20.

Current Holdings and Strategy

According to Arkham’s data, the German government currently holds 45,609 BTC, valued at approximately $2.8 billion. This makes Germany one of the largest nation-state holders of Bitcoin globally.

• Comparison to Other Nations:
  • Germany’s holdings rank behind the United States (213,246 BTC), China (190,000 BTC), and the UK (61,000 BTC) in terms of national Bitcoin reserves.

Market Impact and Bitcoin Price

The market has responded to these movements, with Bitcoin’s price currently at $61,384, reflecting a 6% decrease since the German government began transferring funds to exchanges last week.

• Recent Market Trends:
  • Bitcoin briefly dipped below $60,000 on Monday, partly in response to news about the forthcoming distribution of around $9 billion worth of Bitcoin and Bitcoin Cash by defunct exchange Mt. Gox in July.

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