Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
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
BTC-2.13%

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.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Trending news

More
1
The yield on the US 10-year Treasury bond hit a six-and-a-half-month low of 3.973%, down about 6.3 basis points on the day.
2
Voyage completes $3 million Pre-Seed funding round with participation from a16z Speedrun and others

Crypto prices

More
Bitcoin
Bitcoin
BTC
$108,505.55
-2.10%
Ethereum
Ethereum
ETH
$3,924.76
-1.24%
Tether USDt
Tether USDt
USDT
$1
-0.02%
BNB
BNB
BNB
$1,148.43
-1.41%
XRP
XRP
XRP
$2.37
-2.33%
Solana
Solana
SOL
$189.32
-3.81%
USDC
USDC
USDC
$0.9999
-0.01%
TRON
TRON
TRX
$0.3200
+1.17%
Dogecoin
Dogecoin
DOGE
$0.1918
-3.22%
Cardano
Cardano
ADA
$0.6549
-2.39%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter