The German Government Surprised Everyone With Its Latest Bitcoin Purchase
02.07.2024 20:08 1 min. read Alexander Stefanov
Recently, the German government has been extremely active in selling their Bitcoin tokens.
A few minutes ago, the BKA wallet (which is linked to the German government), bought 150 BTC from Bitstamp for $9.27 million.
Interestingly, earlier today the same address sent 150 BTC to Bitstamp for $9.36 million. Additionally, the wallet sent 100 BTC to Coinbase and 32.74 BTC to Kraken.
At the same time, according to data of Arkham Intelligence, the German government has sent 361.877 BTC worth $22.6 million to Flow Traders, an international trading platform.
On July 1 they transferred another 400 BTC to three crypto exchanges, and before that on June 25, 900 BTC were sent to Kraken, Coinbase and an unknown wallet (allegedly associated with BKA).
The portfolio currently holds $2.694 billion in Bitcoin, which were seized from Movie2k earlier this year.
These moves seem strange, to say the least, given that the address recently returned all of its Bitcoin tokens that it sent to Bitstamp earlier today.
Separately, the connection to the Flow Traders trading platform suggests possible intentions to profit from the seized BTC.
At the time of writing, Bitcoin is trading at $61,880 after a 1.8% drop in the last 24 hours and a trading volume of $22.43 billion.
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