6,500 BTC Moved by German Government Wallet Raises Bitcoin Sale Concerns

A crypto wallet called “German Government (BKS)” by analytics firm Arkham recently moved 6,500 Bitcoin (BTC) on June 19, sparking widespread discussions about a potential Bitcoin sale.

The German Government 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.