$2.8 billion Bitcoin transfer from Germany

An important event took place in the cryptocurrency world. While Bitcoin’s efforts to recover from the $ 60,000 level continue, the German government BitcoinKraken and Coinbase ( COIN) transferred to leading stock exchanges.

According to data from blockchain information platform Arkham, a Bitcoin wallet for Germany moved a total of 900 BTC in the last 24 hours. During this migration process, the wallet sent 200 BTC to Kraken and 200 BTC to Coinbase. Additionally, 500 BTC has now been transferred to an unidentified exchange wallet.

According to Arkham’s reports, the German government transferred $195 million worth of Bitcoin to major exchanges such as Coinbase, Kraken and Bitstamp earlier this month. The government sold a total of $195 million worth of Bitcoin during this period. It is stated that he has sent a total of $65 million worth of Bitcoin to Coinbase and other exchanges in recent days. It was noted that in the previous days, he sent BTC worth $ 130 million to four exchanges, including Kraken and Bitstamp.

Germany’s Bitcoin movements are particularly associated with the sale of Bitcoins seized during the closure of Movie2k.to, a pirate movie distribution site, between 2008 and 2013. The Dresden Public Prosecutor’s Office stated that the site’s operators purchased Bitcoins with their illegal income, and that the 50,000 BTC seized in the process was recorded as the largest seizure in Germany.

At the time of writing this article, the market value of Bitcoin was $61,637.

This news was first published on the Coin Engineer website.