6,500 BTC Moved by German Gov Wallet Raises Bitcoin Sale Concerns
The post 6,500 BTC Moved by German Gov Wallet Raises Bitcoin Sale Concerns appeared first on Coinpedia Fintech News
A crypto wallet called German Government (BKS) by analytics firm Arkham recently moved 6,500 BTC on June 19, sparking widespread discussions about a potential Bitcoin sale. The wallet, which held 50,000 BTC since February 2024, transferred 6,500 BTC worth $425 million to a new address. The funds were linked to a seizure from the pirated movie platform Movie2k and were partially moved to Kraken and Bitstamp exchanges. Currently, the German government wallet holds 43,359 BTC with a total value of $2.83 billion. This activity has resulted in discussions about the impact of such major transactions on the Bitcoin market.
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