Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Right now, almost everyone is checking their accounts, and those who sold BTC are regretting having sold, even governments:
Bulgaria and Germany: The cautionary tales of selling Bitcoin too early
cryptopolitan:https://www.cryptopolitan.com/bulgaria-germany-selling-bitcoin-too-early/
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Bulgaria and Germany: The cautionary tales of selling Bitcoin too early
Quote
*The Bitcoins Bulgaria’s government reportedly sold in 2018 now represent a $25 billion missed opportunity.
*Binance’s CZ reinitiated a long-held debate by claiming Bitcoin can solve public debt.
*Notably, the Bulgarian government insists it never seized or sold the Bitcoins in what is developing into an urban legend.
In 2018, Bulgaria allegedly quietly sold off 213,500 Bitcoins seized from a criminal syndicate, reaping what then seemed like a prudent windfall. But with Bitcoin now trading at over $117,000, those coins would be worth more than $25 billion today, roughly $1 billion more than Bulgaria’s current public debt.
*Binance’s CZ reinitiated a long-held debate by claiming Bitcoin can solve public debt.
*Notably, the Bulgarian government insists it never seized or sold the Bitcoins in what is developing into an urban legend.
In 2018, Bulgaria allegedly quietly sold off 213,500 Bitcoins seized from a criminal syndicate, reaping what then seemed like a prudent windfall. But with Bitcoin now trading at over $117,000, those coins would be worth more than $25 billion today, roughly $1 billion more than Bulgaria’s current public debt.
Quote
Unlike Germany, which recently made headlines for offloading part of its Bitcoin reserves through the Bundeskriminalamt (BKA), prompting price volatility, Bulgaria’s earlier sell-off appears less tactical and more conservative. At the time, the logic was rooted in caution: avoid volatility, monetize seized assets swiftly, and strengthen short-term cash positions.
cryptopolitan:https://www.cryptopolitan.com/bulgaria-germany-selling-bitcoin-too-early/
~snip~
As for Bulgaria, those myths and legends that are written about exist only in the minds of journalists on those third-rate portals whose sources you cite. I don't know what the law was about confiscated property in Bulgaria at that time, but in most countries, confiscated property goes to auction within a certain period, so there was not too much choice as some think.
The publication claims that Bulgaria’s finance minister, Vladislav Goranov, told the Prime Minister’s Security Council the sale had taken place, and that the coins were sold piecemeal so as not to crash the market.
“Several sovereign wealth funds and Asian investors” purchased the coins for around €15,000 each, with Deloitte acting as a consultant, Bivol references Goranov as revealing.
Even more curiously, “experts from the US FBI helped to ensure the safety of transactions,” the last of which occurred April 1, 2018, Goranov is reported to have said.
“Several sovereign wealth funds and Asian investors” purchased the coins for around €15,000 each, with Deloitte acting as a consultant, Bivol references Goranov as revealing.
Even more curiously, “experts from the US FBI helped to ensure the safety of transactions,” the last of which occurred April 1, 2018, Goranov is reported to have said.
As for the German Bitcoins, they were not sold by Germany, but by one of its provinces where they were seized, and that according to the law that required it. There's no regrets or crying over spilt milk here. A country with a 4+ trillion annual budget is certainly not going to cry over a few billion in profit.
CZ should go to El Salvador to show them how public debt can be solved with BTC because he's clearly smarter than the most handsome dictator in the world
