The German government missed out on more than $2 billion worth of Bitcoin profit after selling its holdings in 2024, according to blockchain intelligence firm Arkham.
A “German Government (BKA)” labeled cryptocurrency wallet sold 49,858 Bitcoin (BTC) worth over $2.89 billion at an average price of $57,900 across multiple transactions during June and July in 2024.
The decision to sell the Bitcoin early cost the German government over $2.35 billion, according to crypto intelligence platform Arkham.
Source: Arkham
“If they had held it, their BTC would now be worth $5.24B,” Arkham said in a May 19 X post, noting that Bitcoin has risen more than 80% since the sale.
At the time of publication, Bitcoin was trading at more than $104,700, according to CoinMarketCap data.
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