Oh, what a tangled web we weave when first we practice to seize! Germany’s liquidation of nearly 50,000 Bitcoin from the notorious Movie2K piracy site in 2024 has, quite unexpectedly, drawn the spotlight back to the stage. 🎭
On September 5, the ever-watchful eyes of blockchain analytics firm Arkham Intelligence reported that a staggering 45,000 BTC, still connected to the Movie2K saga, remains untouched and unloved. 🤔
What Can Germany do With the New Bitcoin Stash?
The new coins, now worth nearly $5 billion, are scattered across more than 100 wallets, each as quiet as a church mouse since 2019. 🐁
Arkham, with their usual flair for the dramatic, suggested that these dormant funds are likely still under the control of the site’s original operators. 🕵️♂️
BREAKING: ARKHAM IDENTIFIES $5B BTC THAT THE GERMAN GOVERNMENT FAILED TO SEIZE
German police seized 49,858 BTC from the operators of Movie2K, a film piracy website, in early 2024. The government sold it in July 2024 for $2.89B at an average price of $57,900.
It appears that…
– Arkham (@arkham) September 5, 2025
The German authorities, ever the picture of discretion, have not deigned to comment on whether they are even aware of or pursuing these new funds. 🤷♂️
This revelation has, of course, reignited the grand debate over how governments should manage digital assets once they’ve been confiscated. It’s almost as if they’re playing a game of Monopoly with real money! 🎲
Crypto enthusiasts, always the optimists, argue that the German authorities missed out on a veritable fortune by hastily selling the 49,858 BTC they had seized. The liquidation, carried out at an average price of $57,900, generated a mere €2.64 billion ($2.89 billion). At today’s market levels, that same haul would be worth more than $5 billion. 🤑
As a result, they suggest that Germany should reconsider its approach and treat seized Bitcoin as part of a sovereign reserve. After all, these recovered coins could provide long-term value instead of a one-off cash injection. 🏦
If the government were to adopt this strategy, it would find itself among the largest state Bitcoin holders globally, ranking fifth, just behind Ukraine. Quite the coup, don’t you think? 🏆
However, the chances of the German government embracing a Bitcoin reserve seem as likely as a snowball’s chance in hell, despite its recent pro-crypto moves. 🏴☠️
Germany’s central bank President, Joachim Nagel, has dismissed Bitcoin as unsuitable for sovereign reserves, describing it as volatile, illiquid, and lacking the transparency expected of state-level assets. He even went so far as to compare the flagship cryptocurrency to the Dutch Tulip Mania, warning that adopting Bitcoin could expose public finances to bubble-like risks. 🌼💥
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2025-09-06 15:02