Germany’s Missed Bitcoin Profits

Germany’s decision to sell 50,000 BTC early has led to a staggering $1.1 billion in missed profits, as Bitcoin recently soared to a new all-time high, briefly surpassing $77,000.

Key Takeaways

• Germany missed out on $1.1 billion in profits by selling Bitcoin early.
• The crypto market surge was partly influenced by Trump's re-election and pro-crypto policies.

In July, Germany sold nearly 50,000 BTC at $53,000 per coin, generating about $2.8 billion from assets seized in the “Movie2k” criminal case. However, the current value of the sold Bitcoin is approximately $3.9 billion, highlighting the significant financial impact of this early sale.

According to German law, assets in criminal cases must be sold if their market value fluctuates by over 10% to avoid potential losses due to volatility. This decision comes amidst a broader market surge following Donald Trump’s recent election win, which has fueled optimism across various asset classes, including Tesla, which surpassed a $1 trillion market cap.

Amid this Bitcoin interest, German parliament member Joana Cotar raised concerns about the US considering Bitcoin as a strategic reserve asset. Cotar suggested that if the US proceeds with this move, European countries may soon feel compelled to follow suit, stating:

“If the US buys Bitcoin as a strategic reserve, then all European countries will get FOMO.”

This remark underscores the potential influence of US actions on Bitcoin adoption among governments worldwide.