Arkham: The German Government Missed Out on $2.3 Billion in Profits by Selling Bitcoin at an Average Price of $57,000 Last Year
According to Cointelegraph, blockchain intelligence company Arkham stated that the German government missed out on over $2 billion in profits after selling Bitcoin in 2024. Previously, a wallet labeled "German Government (BKA)" sold 49,858 Bitcoins multiple times between June and July 2024, at an average price of $57,900, totaling over $2.89 billion. Arkham's data shows that this move resulted in a loss of over $2.35 billion for the German government, as these Bitcoins would be worth $5.24 billion today, given that Bitcoin has risen over 80% since the sale. Arkham founder Miguel Morel noted that the selling pattern was rushed, without optimizing market impact and profitability, as it was sold at market price on five different exchanges, seemingly to gain more liquidity.
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