Germany’s Bitcoin Moves Continue

The German government has successfully recovered 2,442 Bitcoin worth a total of $141 million from cryptocurrency exchanges. This strategic move includes notable transactions from major exchanges such as Kraken and Bitstamp.

Germany Continues to Make Significant Moves in the Crypto World

In a remarkable operation, the German government has recovered $141 million worth of Bitcoin. In the latest transaction, 2,442 Bitcoin were transferred to the state’s digital wallet. The details of this large-scale operation are notable. From the Kraken exchange, 903 Bitcoin (approximately $52.3 million) were recovered. Additionally, 1,529 Bitcoin (worth $88.6 million) were transferred from addresses whose sources have not yet been identified. From the Bitstamp platform, 10 Bitcoin (worth $575,000) were recovered.

This move aligns with the German government’s plan to dispose of 50,000 Bitcoin seized from the pirated movie site Movie2K, which was shut down in January. The government’s strategy has faced criticism in some circles. Bitcoin advocate and Bundestag member Joana Cotar stated, “The government’s decision to hastily sell the Bitcoins could have long-term negative consequences.”