Arkham: The German government sold bitcoin at an average price of $57,000 last year, causing it to miss out on $2.30 billion in profits

According to Cointelegraph, blockchain intelligence firm Arkham said the German government missed out on more than $2 billion in profits after selling bitcoins in 2024. Previously, a wallet labeled "German Government (BKA) " sold 49,858 bitcoins in multiple transactions between June and July 2024, with an average price of $57,900 and a total value of more than $2.89 billion. According to Arkham data, the move cost the German government more than $2.35 billion. If it holds it today, the value of these bitcoins will reach 5.24 billion US dollars, as bitcoin has risen by more than 80% since the sale. Arkham founder Miguel Morel said that the sale model was rushed and did not optimize market impact and profitability. It was sold at market prices on five different exchanges, seemingly to gain more liquidity.