Recent activities involving the German government have sparked concerns of a possible Bitcoin price drop. The crypto community is closely monitoring the situation.
ArkhamIntel posted earlier this year, stating, “The German Government is now on Arkham. The German Federal Criminal Police Office (BKA) seized almost 50,000 BTC ($2.12B at the time) from the operators of Movie2k.to, a film piracy website that was active in 2013. The BKA received the Bitcoin in mid-January after a ‘voluntary transfer’ from the suspects.”
The substantial amount of Bitcoin, around 50,000 BTC now valued at approximately $3.2 billion, was seized from the operators of the Movie2k.to piracy website. This development raises concerns about a potential sell-off that could significantly impact Bitcoin’s market price.
Traders and investors are advised to stay vigilant and monitor the situation closely as further movements by the government could lead to increased market volatility.
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