German Authorities May Receive $5 Billion in Bitcoins. What Will They Do With Them?
A new cluster of bitcoins linked to the pirate site Movie2K has been discovered. In 2024, German authorities already liquidated almost 50,000 BTC seized from the service. Now, analysts have discovered another large stash.
On September 5, Arkham Intelligence reported that approximately 45,000 BTC (≈$5 billion) associated with Movie2K remain untouched.
What is known about the new coins
According to Arkham, nearly $5 billion worth of bitcoins are spread across more than 100 wallets. They have been sitting idle since 2019. Analysts believe the funds are likely still under the control of the site's former 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… pic.twitter.com/l0w0OkdU0H
— Arkham (@arkham) September 5, 2025
German authorities have not yet commented on whether they are aware of the assets or are taking steps to seize them. The discovery has reignited debate about how governments should handle confiscated digital assets.
What to do with Bitcoin: sell or hold
Critics of the current policy believe that Germany rushed to sell the previously seized 49,858 BTC. The coins were sold at an average price of $57,900, bringing in about 2.64 billion euros ($2.89 billion). Today, the same batch would be worth more than $5 billion.
Cryptocurrency advocates believe that the seized bitcoins should be treated as a strategic asset and part of government reserves, rather than sold outright. They believe this could provide long-term benefits.
If Germany changes its approach, it will become one of the largest Bitcoin holders among countries. According to Bitcoin Treasuries, the country would rank fifth, just behind Ukraine.
Top 5 Bitcoin Owning Governments in the World. Source: Bitcoin Treasuries
What regulators fear
Despite calls from Bitcoin enthusiasts, the chances of Germany adopting the cryptocurrency as a reserve asset remain slim. Bundesbank President Joachim Nagel has said that Bitcoin is unsuitable for sovereign reserves, calling it volatile, illiquid, and lacking transparency . He has also compared the cryptocurrency to “tulip mania,” warning that its use in public finance could lead to a bubble and serious risks.
Source: cryptonews.net
