The German government is flooding the crypto market with Bitcoin. As of Wednesday, it has transferred at least $615 million of Bitcoin to various crypto exchanges and market entities, according to data by Arkham Intelligence.
The government has sold off the almost 50,000 of Bitcoin it seized in mid-January, worth about $2.1 billion at the time, by police in the eastern German state of Saxony. The annexation was the result of a “voluntary transfer” from the suspects, accused of operating Movie2k.to, a film piracy website that was active in 2013.
