This country has 200,000 BTCs and 200,000 BCHs, which may be higher than the UK's gold reserves in the future.

I don't know if you still remember, according to a press release issued by the South East European Law Enforcement Center, in May 2017, Bulgaria seized 200,000 bitcoins from a criminal gang.

Lavender-4087305_1280

Image source: pixabay

“The Bulgarian authorities discovered more than 200,000 bitcoins worth 500 million U.S. dollars at the time,” it said, adding:

“Members of this organized criminal group invested money from illegal activities into Bitcoin, and the authorities discovered about 200,000 bitcoins.”

They did not provide more details on how these bitcoins were discovered, but the statement said:

“The authorities have searched more than 100 addresses, suspects and vehicles. They have confiscated a large amount of money and equipment, communications equipment, computers, tablets, bank documents, etc. 23 suspects were arrested, 5 of whom were Bulgarian customs officers.”

Therefore, the private key of these coins may come from one of the computers, but the Bulgarian authorities refused to disclose the public bitcoin address, saying the investigation is still in progress.

According to the data, there is currently no Bitcoin address in excess of 120,000 Bitcoin, but of course, Bitcoin can be stored in different addresses. The 200,000 Bitcoins are likely to be scattered under multiple different addresses.

Since this happened in May 2017, this means that the Bulgarian authorities also have 213,519 Bitcoin Cash (BCH), because in August 2017, Bitcoin forks gave birth to Bitcoin Cash (BCH).

These two currencies add up to a current value of $1.7 billion. If Bitcoin appreciates 10 times from now on, Bulgaria's bitcoin reserves will be more than the UK's gold reserves, which are estimated to be $12.8 billion.

In contrast, the US government sold 144,336 bitcoins at a low price between 2015 and 2016, earning only $50 million.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Last chance to get on the bus? Looking back and comparing the previous bull market fluctuations is only when the slow cattle are turned on.

Foreword 1. "BTC stands firm 6000, the next key position is 6372 knives, breaking through the year-round bullish...

Blockchain

Do the bull engine start? After a year, the Bitcoin Bulls and Bears indicator "Super Gubby" first turned cattle

The Bitcoin daily chart recently issued a bullish signal, and the highly-accepted “super guppy” bull-be...

Blockchain

From the coin security to roll back the stolen BTC transaction, talk about how Bitcoin can ensure "unable to modify" from the code

1. According to Zhao Changpeng, it may be very controversial to roll back the BTC transaction to recover the 7000BTC ...

Bitcoin

Does the team's actions really have an impact on the price of the coin?

Does teamwork in action really make the price of coins rise more during a bull market? Is it also more resistant to d...

Blockchain

Explain why Bitcoin needs lightning network with the example of Bar Judy

There have been a lot of "eye-catching" events in the circle recently, but what impact will they have on th...

Blockchain

The short-term sideways consolidation, short-term retracement pressure

Author | Hash sent analysis team Has Aoben got the BTC white paper and code copyright? No, Babbitt reveals the truth ...