<h2><strong>关键要点</strong></h2>
<p><em>德国当局错过了约 45K BTC，来自盗版网站 Movie2K。如果他们选择抛售，这可能会造成另外 50 亿美元的供应过剩。</em></p>
<hr/>
<p>德国在 2024 年中期处理了其比特币 [BTC] 持有量，全部抛售，结果价格翻倍超过 10 万美元。</p>
<p>现在，他们有机会再次获得价值 50 亿美元的 BTC。但他们会重蹈覆辙，拖累市场吗？</p>
<p>根据区块链分析公司 Arkham 的说法，德国错过了 45K BTC，价值约 50 亿美元，这与电影网站 Movie2K 的非法盗版活动有关。</p>
<p>该公司补充说，这些资产分散在超过 100 个 BTC 钱包中，‘很可能仍然在 Movie2K 运营者的控制之下。’</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/09/Screenshot-2025-09-06-170341.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/09/Screenshot-2025-09-06-170341.png"/></p>
<p>来源：X</p>
<h2>留下超过 20 亿美元的损失</h2>
<p>在 2024 年，德国当局抛售了 49,858 BTC，这是从 Movie2K 扣押的资产，运营者 ‘自愿’ 放弃了这些资产。当时，BTC 价格低于 6 万美元，抛售一度拖累了 BTC 价格。</p>
<p>近一年后，BTC 上涨了两倍，达到了 124K 美元，这意味着德国本可以将 2024 年获得的 28.9 亿美元翻倍。他们留下了超过 20 亿美元的损失。</p>
<p>事实上，一些德国立法者曾恳求政府用扣押的资产建立一个战略 BTC 储备。但这些请求未能引起重视。</p>
<p>这次他们会听取意见吗？还是会在 Arkham 找到的 45K BTC 整合后立即出售？</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/09/germany-Bitcoin-scaled.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/09/germany-Bitcoin-scaled.jpg"/></p>
<p>来源：Arkham</p>
<p>从时间上看，德国在 2024 年中期的抛售与 BTC 长达五个月的整合期相吻合。事实上，BTC 在去年 6 月下跌了约 25%，部分原因是德国的抛售压力。</p>
<p>尚不清楚德国当局是否会跟进 Arkham 的发现并扣押这些资产。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/09/BTCUSD_2025-09-06_17-27-09.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/09/BTCUSD_2025-09-06_17-27-09.png"/></p>
<p>来源：BTC/USD, TradingView</p>

GBTC

<p>德国当局未能从盗版网站 Movie2K 中查获 45,000 个比特币，潜在价值达 50 亿美元。2024 年，他们出售了 49,858 个比特币，这些比特币的价值后来翻了一番，引发了对战略储备的呼声。是否出售新发现的比特币的决定可能会影响市场，因为过去的抛售对比特币价格产生了显著影响。德国当局未来对这些资产的行动仍然不确定</p>

<h2><strong>Key Takeaways</strong></h2>
<div class="lb-trans"><h2><strong>关键要点</strong></h2>
</div><p><em>The German authorities missed about 45K BTC from the piracy website Movie2K. This could be another $5B supply overhang if they opt for a sell-off.</em></p>
<div class="lb-trans"><p><em>德国当局错过了约 45K BTC，来自盗版网站 Movie2K。如果他们选择抛售，这可能会造成另外 50 亿美元的供应过剩。</em></p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><p>Germany fumbled its Bitcoin [BTC] holdings and dumped everything in mid-2024, only for the price to double to over $100K.</p>
<div class="lb-trans"><p>德国在 2024 年中期处理了其比特币 [BTC] 持有量，全部抛售，结果价格翻倍超过 10 万美元。</p>
</div><p>Now, it has another chance of seizing $5B worth of BTC. But will it make the same mistake and drag the market with it?</p>
<div class="lb-trans"><p>现在，他们有机会再次获得价值 50 亿美元的 BTC。但他们会重蹈覆辙，拖累市场吗？</p>
</div><p>According to blockchain analytics firm Arkham, Germany missed 45K BTC, worth about $5B, linked to illegal film piracy activities of the movie site, Movie2K.</p>
<div class="lb-trans"><p>根据区块链分析公司 Arkham 的说法，德国错过了 45K BTC，价值约 50 亿美元，这与电影网站 Movie2K 的非法盗版活动有关。</p>
</div><p>The firm added that the assets were spread across over 100 BTC wallets and were ‘most likely still under the control of Movie2K operators.’</p>
<div class="lb-trans"><p>该公司补充说，这些资产分散在超过 100 个 BTC 钱包中，‘很可能仍然在 Movie2K 运营者的控制之下。’</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/09/Screenshot-2025-09-06-170341.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/09/Screenshot-2025-09-06-170341.png"/></p>
<p>Source: X</p>
<div class="lb-trans"><p>来源：X</p>
</div><h2>Leaving over $2B on the table</h2>
<div class="lb-trans"><h2>留下超过 20 亿美元的损失</h2>
</div><p>In 2024, German authorities offloaded 49,858 BTC, the seized stash from Movie2K, which was given up ‘voluntarily’ by the operators. At that time, BTC was below $60K, and the dumping dragged BTC price for a while.</p>
<div class="lb-trans"><p>在 2024 年，德国当局抛售了 49,858 BTC，这是从 Movie2K 扣押的资产，运营者 ‘自愿’ 放弃了这些资产。当时，BTC 价格低于 6 万美元，抛售一度拖累了 BTC 价格。</p>
</div><p>Nearly a year later, BTC rallied 2x and tagged $124K, meaning Germany would have doubled the $2.89B they got in 2024. It left over $2B on the table.</p>
<div class="lb-trans"><p>近一年后，BTC 上涨了两倍，达到了 124K 美元，这意味着德国本可以将 2024 年获得的 28.9 亿美元翻倍。他们留下了超过 20 亿美元的损失。</p>
</div><p>In fact, some German lawmakers begged the government to create a strategic BTC reserve with the seized assets. But the pleas fell on deaf ears.</p>
<div class="lb-trans"><p>事实上，一些德国立法者曾恳求政府用扣押的资产建立一个战略 BTC 储备。但这些请求未能引起重视。</p>
</div><p>Will they listen this time round? Or will it sell immediately once it consolidates all the 45K BTC found by Arkham?</p>
<div class="lb-trans"><p>这次他们会听取意见吗？还是会在 Arkham 找到的 45K BTC 整合后立即出售？</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/09/germany-Bitcoin-scaled.jpg" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/09/germany-Bitcoin-scaled.jpg"/></p>
<p>Source: Arkham</p>
<div class="lb-trans"><p>来源：Arkham</p>
</div><p>For perspective, the German sell-off in mid-2024 coincided with BTC’s five-month-long consolidation. In fact, BTC dropped about 25% last June, partly because of German selling pressure.</p>
<div class="lb-trans"><p>从时间上看，德国在 2024 年中期的抛售与 BTC 长达五个月的整合期相吻合。事实上，BTC 在去年 6 月下跌了约 25%，部分原因是德国的抛售压力。</p>
</div><p>It remains to be seen whether the German authorities will follow up on Arkham’s findings and seize the assets.</p>
<div class="lb-trans"><p>尚不清楚德国当局是否会跟进 Arkham 的发现并扣押这些资产。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/09/BTCUSD_2025-09-06_17-27-09.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/09/BTCUSD_2025-09-06_17-27-09.png"/></p>
<p>Source: BTC/USD, TradingView</p>
<div class="lb-trans"><p>来源：BTC/USD, TradingView</p>
</div>

德国错失的比特币收获如何影响 BTC 的下一次重大走势