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#2024 GERMANY LOST MILLIONS OF DOLLARS by selling BTC prematurely.
The hodl strategy, which involves the accumulation and long-term storage of Bitcoin investments – benefited BTC investors this year as market prices rose above $100,000 in December.
Germany was one of the largest Bitcoin holders, making the costly decision to sell 50,000 BTC in July 2024.
Germany sold around 49,858 Bitcoins between June 19 and July 12 for around 2.6 billion euros ($2.8 billion).
The German government had ordered an “emergency sale” of seized Bitcoin in June, believing that the cryptocurrency’s value could fall by more than 10%. Unfortunately for German price analysts, Bitcoin reached a new all-time high six months later, which would have increased the value of 50,000 BTC to over $5 billion.$BTC #BtcNewHolder
The hodl strategy, which involves the accumulation and long-term storage of Bitcoin investments – benefited BTC investors this year as market prices rose above $100,000 in December.
Germany was one of the largest Bitcoin holders, making the costly decision to sell 50,000 BTC in July 2024.
Germany sold around 49,858 Bitcoins between June 19 and July 12 for around 2.6 billion euros ($2.8 billion).
The German government had ordered an “emergency sale” of seized Bitcoin in June, believing that the cryptocurrency’s value could fall by more than 10%. Unfortunately for German price analysts, Bitcoin reached a new all-time high six months later, which would have increased the value of 50,000 BTC to over $5 billion.$BTC #BtcNewHolder
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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