Germany Bitcoin Seizure Dey Leave $5B Inactive from Movie2K
Blockchain analytics company Arkham Intelligence first track over 108,000 BTC (bout $5.6B) wey connect with the Movie2K piracy site for more than 100 wallets. From these, about 45,000 BTC worth roughly $5B still untouched and don sleep since 2019.
For early 2024, German authorities collect and sell around 50,000 BTC for $2.9B. But, dem no fit catch most of the big amount.
The report show the wahala wey dey for Germany as dem dey try seize Bitcoin and the gbege wey dey for blockchain forensics. Traders suppose dey watch how the Bitcoin move on-chain. Any big transfer fit make market supply jump and cause price shake.
Neutral
Di news show say plenti BTC wey dem dey hold no touch after Germany po po man catch am, e no go change supply quick quick. For short time, market no go change wella because di BTC wey no dey move never move. For long term, if dem move dis $5B stash, e fit increase market supply and gbe price up and down. Meanwhile, enforcement gap fit affect confidence, but until di BTC begin move for on-chain, price go just dey calm.