BKA Sells 1,900 Seized Bitcoins Worth €114M, €2.8B More in Reserve
The Federal Criminal Police Office (BKA) has initiated the sale of a substantial Bitcoin (BTC) cache, with the first batch of 1,900 BTC already deposited on exchanges. This move follows the seizure of 50,000 BTC from the operators of the illicit Movie2k.to video platform by the Saxon State Criminal Police Office (LKA).
The BKA has commenced selling these seized BTC on public exchanges. The current value of the 1,900 BTC stands at nearly 114 million euros, with the BTC to euro exchange rate at approximately 60,000 euros per BTC. Meanwhile, the BKA retains a reserve of 46,859 BTC, which, if sold, would yield approximately 2.8 billion euros, based on the current BTC to euro exchange rate.
The BKA's sale of seized BTC is expected to generate significant funds. If all 46,859 BTC in reserve are sold, the total could reach nearly 2.8 billion euros, reflecting the cryptocurrency's substantial value and the potential impact of such sales on law enforcement agencies.
