The latest move leaves German wallets with just $1.34 billion worth of Bitcoin, down from a recent peak of $3.5 billion a month ago. Germany has made many small transfers in recent weeks, but this is by far the largest single-day transfer.

Germany’s Bitcoin holdings are largely the result of funds seized from the creator of a long-shuttered movie piracy site, Movie2k.to. In January, the government seized 50,000 Bitcoins from the site’s owners.

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