The German state of Saxony has faced a notable financial setback. The state sold its substantial Bitcoin (BTC) holdings, only to see the cryptocurrency’s value surge dramatically shortly thereafter. This miscalculation has led to a missed opportunity for an additional $124 million in potential profits.
Premature Bitcoin Sale
On July 13, Saxony completed the sale of 50,000 BTC, a significant amount seized from the movie piracy website, movie2k.·
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