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The German government missed out on approximately 1.6 billion dollars in profit due to selling Bitcoin too early

The German government missed out on approximately 1.6 billion dollars in profit due to selling Bitcoin too early

Bitget2024/11/12 14:06

According to four months ago, the German government sold about 50,000 Bitcoins, after which the asset price rose sharply. Data shows that in July, the German government sold 50,000 Bitcoins at a price of $2.88 billion as part of a plan from the now-defunct movie piracy website Movie2K. The average selling price of these Bitcoins was $57,600. On November 11th, Bitcoin's daily increase was nearly $10,000 - this is the largest single-day increase in Bitcoin history. Therefore its held bitcoins are now worth up to $4.5 billion dollars meaning that due to early sale of bitcoin by Germany's Government they missed out on profits around $1.6 billion dollars.(TheBlock)

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