The German government’s decision to offload its Bitcoin holdings during the summer of 2024 ended up costing the country billions in potential profit.
According to blockchain analytics firm Arkham, Germany sold approximately 49,858 Bitcoin in June and July 2024, generating around $2.89 billion at an average price of $57,900 per coin. The wallet used in these transactions was labeled “German Government (BKA).”
However, had the government held onto its Bitcoin, the value of the stash would now exceed $5.24 billion—representing a missed gain of roughly $2.35 billion, Arkham noted in a May 19 post on X.
Since the time of the sale, Bitcoin has surged over 80%, with the price sitting above $104,700 at the time of writing, according to CoinMarketCap.
