Germany Sold 50,000 Bitcoin Seized from Movie2K for $2.88 Billion at $57,600 Each; Bitcoin Price Doubled Since to $5.5 Billion

The German government sold 50,000 Bitcoin in July 2024, which had been seized from the defunct piracy site Movie2K. The sale was executed at an average price of approximately $57,600 per Bitcoin, totaling around $2.88 billion. At the time of the sale, Bitcoin was valued near $55,000 to $58,000, but since then, the cryptocurrency's price has doubled, making the current value of those Bitcoins approximately $5.5 billion. This transaction has been widely discussed as a missed opportunity for substantial profit. Separately, the Australian Federal Police secured the forfeiture of nearly 25 Bitcoin linked to illicit activities, including suspected theft from a French crypto exchange. The seizure, combined with physical properties, was valued at about 4.5 million Australian dollars, or $2.88 million USD.

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