Germany has lost $124 million in profits selling bitcoin
2024-07-21 19:19:38
On July 13, the German state of Saxony completed the sale of 50,000 BTC seized from the movie piracy site movie2k, generating around $2.87 billion. They made a profit of more than $740 million compared to the acquisition cost of $2.13 billion in January. However, driven by the assassination of former US President Donald Trump, the bitcoin price soared 16.55% immediately after the sale, which also boosted his chances of re-election in November. Theoretically, the sale of 50,000 BTC in March could generate a profit of $1.50 billion for the state. At the same time, bitcoin fell by 12% during the German government sale, which also led to a loss of profits.
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