The German government has recently transferred a substantial amount of Bitcoin to centralized exchanges, fueling market discussions and speculations. According to data from blockchain analytics firm Arkham, the German Federal Criminal Police Office BKA moved another 250 BTC to exchanges such as Kraken and Coinbase. This Bitcoin is worth about $15.4 million. A transfer that follows a series of similar moves last week.
While the exact motives remain speculative, such actions often signal the possibility of liquidating the assets for fiat currency or other tokens. Despite these moves representing only a fraction of daily Bitcoin trading volumes, the German government’s holdings, approximately 46,359 BTC worth around $2.8 billion, are significant. This makes Germany one of the largest nation-state holders of Bitcoin, following the United States, China, and the UK.