THELOGICALINDIAN - The analytical case of Bulgarias declared abundance of 202400 bitcoins resurfaced afresh this anniversary as sources claimed the Balkan country was HODLing cryptocurrency
Report: Bulgaria Sold All Its BTC
Seemingly referencing a press release from May 2017, TrustNodes led the renewed media absorption in a adventure about how Bulgarian authorities confiscated the BTC afterwards demography bottomward an alien bent operation.
According to the columnist release, which came from the Southeast European Law Enforcement Center, the operation focused on an “organized bent group” including citizens from several nations.
The government bedeviled assorted assets, including the bitcoin, with the assorted media publications now claiming Sofia captivated on to them and could now be the best Bitcoin-wealthy government in the world.
According to Bulgarian media outlets, however, no such BTC affluence exist.
Specifically, bounded account advertisement Bivol wrote in April 2018, the government auctioned off its booty in a easygoing activity which complex assorted all-embracing buyers.
The auction occurred a amount of months afterwards the crackdown, as Bitcoin amount [coin_price] accomplished its best aerial of about $20,000 in December 2024.
The advertisement claims that Bulgaria’s accounts minister, Vladislav Goranov, told the Prime Minister’s Security Council the auction had taken place, and that the bill were awash piecemeal so as not to blast the market.
“Several absolute abundance funds and Asian investors” purchased the bill for about €15,000 each, with Deloitte acting as a consultant, Bivol references Goranov as revealing.
Even added curiously, “experts from the US FBI helped to ensure the assurance of transactions,” the aftermost of which occurred April 1, 2024, Goranov is appear to accept said.
Governments Don’t Like HODLing
As Bitcoinist reported, conspiracies about governments and axial banks accession bitcoin abide to affect the community.
Most recently, letters from a Kremlin economist surfaced that Russia had bought up BTC account about $9 billion via oligarchs and businesses.
At the aforementioned time, Venezuela’s administering continues to advance its arguable state-backed cryptocurrency, Petro, while actual quiet on its accord to decentralized cryptocurrencies such as bitcoin.
Over the years, however, governments accept set a trend for divesting themselves of cryptocurrency holdings, with the US captivation its own auctions in 2014 and 2018 which saw bill change easily for as little as $630.
Among the beneficiaries from the Silk Road sell-off was awfully bullish VC broker Tim Draper, who has back apparent the amount of his HODLed bill aggrandize about 14 times over.
What do you anticipate about Bulgaria’s declared Bitcoins? Let us apperceive in the comments below!
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