German Government Shifts $46.3M Bitcoin to Multiple Addresses

The German government continues to shift Bitcoin in the millions.

Gold hand trying to grab crypto coins,
Created by Kornelija Poderskytė from DailyCoin
  • The German government has reportedly moved another Bitcoin worth millions.
  • The government has been sending massive BTC transfers over the past week.
  • The development comes after German authorities seized 50,000 BTC in January.

A crypto address labeled as belonging to the German Federal Criminal Police Office (BKA) was active again Wednesday, sending millions in Bitcoin to multiple addresses.

The development comes after the wallet on June 25 moved 900 BTC ($55 million) in three transfers. This included 500 BTC ($30.9 million) to the address “139Po” and 400 BTC ($24.4 million) in two transactions to crypto exchanges Kraken and Coinbase, indicating a potential interest in selling the assets.

BKA Wallet Moves More BTC

On June 26, on-chain analytics firm Lookonchain alerted the X (Twitter) crypto community to massive Bitcoin transfers by the German government’s reported wallet. Like the previous day, the wallet sent some Bitcoin to the address “139Po” and the rest to crypto exchange deposit addresses.

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“The German Government transferred 750 $BTC($46.35M) out again, of which 250 $BTC($15.41M) was transferred to #Bitstamp and #Kraken,” Lookonchain wrote. The German Government also transferred 0.001 $BTC to Flow Traders, which may be a test transaction and will sell $BTC through Flow Traders.”

Address “139Po” received 500 BTC from the BKA wallet for the second time in barely a day. While blockchain analytics firms have yet to tag the address, it is likely that it belongs to a crypto exchange.

The BKA-labeled address embarked on a Bitcoin transfer spree to crypto exchanges last week after German authorities seized 50,000 BTC connected to a pirated materials operation film-piracy site Movie2k in January.

Overall, the address has transferred about $150 million in Bitcoin to crypto exchanges and another $147 million BTC to the “139Po” address so far.

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Read about Julian Assange’s family appeal for Bitcoin donations:
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Stay updated on Strike’s move to bring crypto payments to the UK:
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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Brian Danga

Brian Danga, a Kenyan crypto reporter, is dedicated to delivering breaking news and updates from the cryptocurrency world. With a background as a Web3 writer and project manager, he recognizes the importance of unbiased reporting. Holding an LLB degree from the University of Nairobi, Brian's analytical skills contribute to his accurate news reporting. His personal interests include cooking, watching documentaries, reading, and engaging in intellectual discussions.