CandleFocus Germany misses $1.1B in profits as Bitcoin hits a new all-time high
2024-11-08
Author: Content Editor
Germany sold nearly 50,000 BTC at $53,000 per coin in July, resulting in an estimated $1.1 billion in missed profits as Bitcoin recently reached a new all-time high of over $77,000. The sale was conducted to prevent potential losses due to market volatility and generated approximately $2.8 billion from assets seized in a criminal case. The missed opportunity highlights the financial impact of early sales. In light of Bitcoin's recent surge and speculation of favorable regulatory changes, German parliament member Joana Cotar expressed concerns about the US considering Bitcoin as a strategic reserve asset. Cotar suggested that if the US buys Bitcoin in this manner, it may inspire European countries to follow suit.
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