This week, news of Bulgaria's hoarding of 200,000 bitcoins reappeared. It is reported that the Balkan countries are hoarding cryptocurrencies.
Foreign media: Bulgaria has already cleared bitcoin
By citing a press release in May 2017, TrustNodes renewed interest in the media, reporting that the Bulgarian authorities confiscated a large amount of bitcoin in an unknown criminal act.
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According to this press release from the South East European Law Enforcement Center, the focus of this action is an “organized criminal group” involving citizens from multiple countries.
The government seized various assets, including bitcoin, and many media claimed that Bulgaria still holds these assets, so it may be the world's richest bitcoin government holder.
However, according to Bulgarian media reports, the so-called bitcoin reserves do not exist.
Local media Bivol wrote in April 2018 that the government auctioned these assets in a low-key manner, with many international buyers participating.
The auction took place in the months following the action, and the price of Bitcoin reached an all-time high of about $20,000 in December of the same year.
According to Bivol, Bulgarian Finance Minister Vladislav Goranov told the Prime Minister’s Security Committee that the auction of these assets has begun and is sold in small quantities to avoid a market collapse.
Goranov said that “several sovereign wealth funds and Asian investors” purchased the coins at an average price of about 15,000 euros, with Deloitte as a consultant.
More interestingly, “Experts from the FBI helped ensure the security of the transaction,” Goranov said, the most recent of which occurred on April 1, 2018.
Not everyone likes Hodling
The plot of the government and the central bank to hoard bitcoin continues to spread in the community.
Just recently, an economist in the Kremlin reported that the Russian government acquired nearly $9 billion worth of bitcoin through oligopolies and businesses.
At the same time, the Venezuelan government continues to promote its controversial cryptocurrency, the petroleum coin, while remaining silent about its relationship with decentralized cryptocurrencies such as Bitcoin.
However, over the years, governments have shown a tendency to clarify the relationship with their own cryptocurrency as soon as possible. The United States held auctions of cryptocurrencies such as Bitcoin in 2014 and 2018, when the auction price was only $630.
In the auction of the Dark Net Silk Road, the venture capital tycoon who is optimistic about Bitcoin has become one of the beneficiaries of Tim Draper. Since participating in the auction, Draper has held a nearly 14-fold increase in bitcoin.