Between June 19 and July 12, 2024, the German government offloaded 49,858 Bitcoin seized from a defunct piracy operation, netting approximately $2.89 billion at an average price of $57,900 per coin.
The coins originated from Movie2K.to, an illegal streaming platform. The Bundeskriminalamt, Germany’s federal criminal police, had acquired the stash at an average cost of roughly €39,400 per Bitcoin back in January 2024.
How Germany sold nearly 50,000 Bitcoin in 23 days
The liquidation was a coordinated effort between Saxon state authorities, the Dresden Public Prosecutor’s Office, and financial intermediary Bankhaus Scheich. Transactions flowed through major exchanges including Coinbase and Kraken, spread across the 23-day window to manage market impact.
On-chain analytics firm Arkham Intelligence tracked the wallets in near real time. Analysts observing the liquidation noted that while the sales triggered short-term volatility, they did not create lasting downward pressure on Bitcoin’s price.
