German Govt’s Bitcoin Blunder: Missed $2.3B Profit – Oops! 😅

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A Financial Fumble of Epic Proportions: The German Government’s Bitcoin Saga

Oh, darling, it seems the German government fancied themselves as savvy investors in the glittering world of cryptocurrency. Instead, they legged it out of their Bitcoin holdings in 2024, leaving over $2 billion on the table—how very gauche! 💸

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Yes, you read that correctly. A wallet branded “German Government (BKA)” decided to part with 49,858 Bitcoin—worth a staggering $2.89 billion at an average of $57,900—during June and July of 2024. The decision was as hasty as a last-minute can-can performance, and as sharp as a soufflé collapsing in the oven.

According to the clever folk at Arkham, delaying the sale cost the good ol’ Germans a hefty $2.35 billion. Tch, if only they’d held on, their Bitcoin would now be strutting around at a splendid $5.24 billion. But no, they chose to sell at the very moment when Bitcoin was doing its best impersonation of a rocket—up over 80% since their capitulation! 🚀

Bitcoin Chart

At present, Bitcoin is trading at more than $104,700, proving once again that timing is everything—unless you’re the German government, of course, who evidently missed their cue.

It all kicked off when this wallet, associated with the German authorities, made a dramatic move on June 19, 2024—a cheeky transfer of 6,500 BTC worth over $425 million. Originally, the wallet held around 50,000 BTC, allegedly seized from the now-defunct Movie2k pirates—what a lovely souvenir of bygone days! 🎬

Haste Makes Waste: The Rushed Sale

Arkham’s Mr. Morel observed that the transactions looked less like a Wall Street ballet and more like a hurried dash through a clearance sale. “They went to five exchanges, trying to fling their Bitcoin into the market faster than you can say ‘liquidity.’” Quite the frantic fandango, really.

One can only imagine the frantic scribbled notes and frantic glances exchanged in the German chancery—‘Hurry now, we need the cash before Bitcoin hits the moon!’

Meanwhile, the market took the whispers of their sell-off more seriously than a tipsy uncle at a wedding, causing Bitcoin’s price to dip below $60,000. But fear not, dear reader, it wasn’t long before Bitcoin bounced back like a cork in champagne, hitting new heights and leaving the Germans’ misadventure in the dust.

Bitcoin Price Chart

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2025-05-20 16:40