Bitcoin News Today: Germany May Have Left $5B Bitcoin Windfall Dormant Since 2019

Germany may have overlooked a substantial Bitcoin holding tied to the former piracy platform Movie2K, according to analysis from blockchain intelligence firm Arkham. The firm identified over 45,060 BTC, or nearly $5 billion at current prices, remaining in wallets associated with Movie2K. This sum is comparable to the 49,858 BTC seized by German authorities in January 2024, which were later sold at an average price of $57,900 in June and July 2024, yielding approximately $2.8 billion. The seized coins were among the largest ever taken by German law enforcement in a single operation.

The additional Bitcoin identified by Arkham has not moved since 2019 and is distributed across over 100 wallets. The firm suggests these funds are likely still under the control of the Movie2K operators. This discovery raises questions about the completeness of the original investigation and the potential for further seizures. Arkham noted that the unclaimed Bitcoin was not included in the earlier sales and that German authorities have not publicly commented on the new findings [1].

The timing of the 2024 sale has drawn criticism, as the price of Bitcoin surged significantly in the months following the transaction. By mid-November 2024, Bitcoin exceeded $90,000, and by December, it reached above $100,000—nearly 75% higher than the average sale price. At the peak of $124,128 in mid-August 2025, the seized BTC would have been valued at over $5.6 billion. Critics argue that the government missed an opportunity to maximize value by holding the asset through the rally [1].

Legally, German authorities face challenges in acting on Arkham’s findings. Local regulations require proof that the remaining Bitcoin is of illicit origin before it can be seized. Additionally, police must identify and establish control over the owners of the 100+ wallets reported by Arkham. If successful, the government could potentially add this new stash to its digital asset holdings. However, the process would require navigating a complex legal and procedural landscape [1].

The debate over the handling of seized cryptocurrencies has intensified in light of these findings. While some advocate for treating such assets as long-term reserves—potentially placing Germany among the largest state Bitcoin holders—others, including Germany’s central bank President Joachim Nagel, remain skeptical. Nagel has dismissed Bitcoin as too volatile and illiquid for inclusion in sovereign reserves, comparing it to historical speculative bubbles like the Dutch Tulip Mania [2].

The situation highlights the broader tension between maximizing short-term gains and managing digital assets as strategic long-term holdings. For now, German authorities have not indicated a plan to pursue the newly identified Bitcoin, and the legal and technical hurdles to doing so remain significant. The case also underscores the evolving challenges faced by governments in regulating and managing cryptocurrencies in the context of cybercrime investigations [3].

Source:

[1] Germany Failed to Seize $5B Bitcoin from Piracy Site Movie2K: Arkham (https://cointelegraph.com/news/germany-failed-seize-5b-bitcoin-piracy-site-movie2k-arkham)

[2] Arkham Finds $5 Billion In Bitcoin That Germany Could Still ... (https://www.mitrade.com/insights/news/live-news/article-3-1101520-20250906)