Arkham Intelligence Has Revealed $5 Billion in Dormant Bitcoin Linked to Movie2K Piracy Case 

Arkham Intelligence has uncovered 45,000 Bitcoin valued at nearly $5 billion still tied to the historic Movie2K piracy case.

These coins have remained untouched since 2019, sparking renewed questions about Germany’s approach to managing seized digital assets and its stance on holding Bitcoin as part of its reserves.

Arkham Finds Extra $5B Bitcoin

Arkham research shows that the 45,000 dormant Bitcoins is spread across more than 100 wallets tied to Movie2K, a piracy site that was popular in 2013 before being shut down. The site’s operators were arrested in 2019, and in early 2024, they handed over nearly 50,000 BTC in what officials called a “voluntary transfer.”

In January 2024, German authorities seized 49,858 BTC, which they later sold in June and July for about $57,900 each, raising €2.64 billion ($2.89 billion). But with Bitcoin now trading above $123,000, those coins would be worth over $5 billion today.

This has led to criticism that Germany sold too early and at a low price. Arkham also pointed out that officials never mentioned the extra 45,000 BTC it has now uncovered.

Renewed Debate on Sovereign Reserves

Arkham’s discovery of 45,000 dormant BTC has reignited debate in Germany over whether to hold Bitcoin as a reserve. Lawmaker Joana Cotar supports building a reserve and even making Bitcoin legal tender, while Bundesbank President Joachim Nagel rejects the idea as too risky. Unlike El Salvador, which openly manages its Bitcoin holdings,

Germany faces uncertainty over whether it can claim the coins linked to Movie2K. For now, the BTC remains untouched, highlighting the challenges of managing seized digital assets and pressuring Berlin to rethink its strategy.