Germany’s liquidation of practically 50,000 Bitcoin seized from the Movie2K piracy website in 2024 has drawn renewed consideration after blockchain analysts recognized one other large trove linked to the case.
On September 5, blockchain analytics agency Arkham Intelligence reported that roughly 45,000 BTC tied to Movie2K stays untouched.
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What Can Germany do With the New Bitcoin Stash?
The brand new cash, valued at practically $5 billion, are distributed throughout greater than 100 wallets and have proven no exercise since 2019.
Arkham advised that the dormant funds are doubtless nonetheless managed by the location’s operators.
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BREAKING: ARKHAM IDENTIFIES $5B BTC THAT THE GERMAN GOVERNMENT FAILED TO SEIZE
German police seized 49,858 BTC from the operators of Movie2K, a movie piracy web site, in early 2024. The federal government offered it in July 2024 for $2.89B at a mean worth of $57,900.
It seems that… pic.twitter.com/l0w0OkdU0H
— Arkham (@arkham) September 5, 2025
The German authorities haven’t commented on whether or not they’re conscious of or pursuing these new funds.
Crypto advocates argued that German authorities missed out on vital income by rapidly promoting the 49,858 BTC they’d seized.
The liquidation, carried out at a mean worth of $57,900, generated €2.64 billion ($2.89 billion). That very same haul can be price greater than $5 billion at present market ranges.
In consequence, they argued that Germany ought to rethink its strategy and discover treating seized Bitcoin as a part of a sovereign reserve. In response to them, these recovered cash may present long-term worth as a substitute of one-off money injections.
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If the federal government pursues this technique, it might rank among the many largest state Bitcoin holders globally. In response to Bitcoin Treasuries knowledge, Germany would place fifth, simply behind Ukraine.
High 5 Bitcoin-Holding Governments Globally. Supply: Bitcoin Treasuries
Nevertheless, the probabilities of the German authorities embracing a Bitcoin reserve seem slim regardless of its current pro-crypto strikes.
Germany’s central financial institution President, Joachim Nagel, has dismissed Bitcoin as unsuitable for sovereign reserves. He described the asset as risky, illiquid, and missing the transparency anticipated of state-level property.
Furthermore, Nagel in contrast the flagship cryptocurrency to the Dutch Tulip Mania, warning that adopting Bitcoin may expose public funds to bubble-like dangers.
