The German government missed out on approximately 1.6 billion dollars in profit due to selling Bitcoin too early
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)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Japanese fashion brand ANAP increases its Bitcoin holdings to 1,047.56 BTC
Data: Trend Research holds a total of 152,000 ETH
Ant Group CEO Han Xinyi: We firmly will not issue virtual currencies or participate in any form of speculation
Trending news
MoreCrypto prices
More








