Germany Sells its Remaining Bitcoin Holdings

Germany has been actively moving a large amount of Bitcoin to various exchanges and market makers in the past few days, in an apparent attempt to sell the crypto that it seized in January.

According to data from Arkham Intelligence, the country’s wallet was completely emptied on Friday afternoon, with a total amount of 3846.05 Bitcoins (equivalent to $223.81 million) being transferred to Kraken.

The wallet also made transfers to wallets connected to Bitstamp, Coinbase, B2C2 Group, Cumberland DRW, and an unidentifiable OTC service address, as reported by Arkham Intelligence, an on-chain analytics firm.

These transfers seem to be related to Germany’s plan to sell the 50,000 Bitcoins it seized from the now-defunct film piracy website Movie2K earlier this year.