Germany Misses Up to $2.8 Billion Selling Nearly 50,000 Bitcoin at $54K-$57.6K as Price Doubles Over $104K

In mid-2024, the German government sold approximately 49,858 Bitcoin at an average price around $54,000 to $57,600 per coin.

The German government sold nearly 50,000 Bitcoin at an average price around $54,000 to $57,600 per coin in mid-2024, according to an estimate by BitRiver.

Since then, the flagship cryptocurrency has surged to over $104,000, effectively doubling in value. This early sale, which was part of a broader liquidation of Bitcoin assets, has led to an estimated missed opportunity of $2.3 billion to $2.8 billion in potential gains for Germany.

The decision to liquidate the Bitcoin holdings, which were reportedly seized assets from the state of Saxony, faced some political criticism at the time. However, the missed gains have drawn attention once again as Bitcoin approaches new all-time highs, highlighting the financial impact of the government’s timing in selling its cryptocurrency assets.

Earlier this year, Germany's Federal Ministry of Finance announced plans to auction off seized Bitcoin to fund the government's initiatives. The government had acquired a significant amount of Bitcoin through legal procedures, and the proceeds from the auction were intended to be directed towards projects aimed at benefiting society.