Bulgaria sold 213,500 BTC 8 years ago – Today, that could pay off more than the country’s entire national debt

In 2017, Bulgaria seized 213,519 Bitcoin, worth approximately $3.5 billion, which was enough to cover a fifth of the country’s national debt. However, the government sold the Bitcoin in 2018, now worth over $25.24 billion, exceeding the country’s public debt of $24 billion. Experts speculate that the sale was motivated by unfamiliarity with Bitcoin’s value and volatility, and some believe that holding a long-term reserve of Bitcoin could have provided benefits.

Key Points

Bulgaria’s Bitcoin seizure was worth $3.5 billion in 2017. The government sold the Bitcoin in 2018, now worth over $25.24 billion. Bulgaria’s public debt is approximately $24 billion. Experts suggest that holding a long-term reserve of Bitcoin could have provided benefits. Other countries, such as the US, China, and the UK, also hold significant amounts of Bitcoin.