Right on schedule, a wallet controlled by a German government agency transferred bitcoin to centralized exchanges like Bitstamp, Kraken and Coinbase – as well as B2C2 Group and another address believed to be associated with a OTC trading organization or service.
The German government transferred 375 BTC to Bitstamp, 375 BTC to Kraken, and 375 BTC to Coinbase – a total of 1,125 BTC (equivalent to $65.5 million). They also transferred 1,000 BTC (equivalent to $58.2 million) to a wallet identified by Arkham as belonging to the B2C2 group. Ultimately, they transferred 250 BTC (approximately $14.6 million) to a planned OTC service linked to an institutional deposit address.
Source: Arkham
These latest moves follow transfers of more than 10,853 BTC (worth $637.7 million at the time) to the same or similar entities yesterday — although the German government took it back 2,422 BTC (142 million USD) last night. These returned bitcoins are said to have not been sold as part of the sale agreement.
Overall, these transfers are consistent with the German government's strategy to release 50,000 bitcoins confiscated from the now-defunct movie pirate site Movie2K in January — a strategy criticized as “counterproductive.” application” by Joana Cotar, member of the German Parliament and bitcoin advocate.
Source: Arkham
The German government's relevant bitcoin wallet currently holds about 13,177 coins, worth $766.27 million.
