Key Takeaways
- Germany missed $1.6 billion in potential gains by selling bitcoin early.
- The U.S. government's early bitcoin sales led to a $16.6 billion shortfall.
- Trump plans to create a national bitcoin stockpile, potentially halting sales.
The German government recently missed out on up to $1.6 billion by selling 50,000 bitcoin seized from the defunct piracy site Movie2K in July, just months before a massive price rally.
The sale, which netted $2.88 billion at an average price of $57,600 per bitcoin, occurred before the asset’s value soared to an all-time high, reaching $4.5 billion in value.
Price movement
Bitcoin’s price spiked following Donald Trump’s recent election win, rising $10,000 in a single day on November 11.
The price surge left Germany with a missed opportunity to capitalize on a 56% increase.
U.S. government
Meanwhile, the U.S. government has faced similar losses, with 195,091 bitcoin sold across 11 auctions over the past decade, resulting in a potential missed value of $16.6 billion at current prices.
President-elect Trump has signaled a different approach, stating in July that he would end U.S. government bitcoin sales, creating a “strategic national bitcoin stockpile” instead.
Wyoming Senator Cynthia Lummis also recently proposed a bill for the U.S. to acquire 1 million bitcoin, which would add $88 billion to federal reserves.
Lummis said:
Establishing a strategic Bitcoin reserve to bolster the U.S. dollar with a digital hard asset will secure our nation’s standing as the global financial leader for decades.
