Germany misses $1.1B in profits as Bitcoin hits a new all-time high

Key Takeaways

• Germany missed out on $1.1 billion in profits by selling Bitcoin early.
• The crypto market surge was partly influenced by Trump's re-election and pro-crypto policies.

Germany’s July decision to sell nearly 50,000 BTC at $53,000 per coin has resulted in an estimated $1.1 billion in missed profits, as Bitcoin recently reached a new all-time high, briefly surpassing $77,000. 

At today’s prices, however, the 49,858 BTC sold could have been valued at approximately $3.9 billion, underscoring the financial impact of the early sale.

German authorities conducted the sale between June 19 and July 12, generating approximately $2.8 billion from assets seized in the “Movie2k” criminal case.

Under German law, assets in criminal cases must be sold if their market value fluctuates by over 10% to prevent potential losses due to volatility.

This missed opportunity comes as markets have surged following Donald Trump’s recent election win, which has fueled optimism and record highs across multiple asset classes. 

With Trump’s victory, the SP 500 hit new highs, Tesla’s market cap surpassed $1 trillion, and Bitcoin has rallied significantly amid speculation of favorable regulatory changes.

Amid this surge in Bitcoin interest, German parliament member Joana Cotar expressed concerns about the US considering Bitcoin as a strategic reserve asset.

According to Odaily, Cotar suggested that if the US proceeds with such a move, European countries may soon feel compelled to follow. 

“If the US buys Bitcoin as a strategic reserve, then all European countries will get FOMO,”

Cotar remarked, highlighting the potential influence of US actions on Bitcoin adoption among governments worldwide.