Arkham: The German government sold Bitcoin at an average price of $57,000 last year, missing out on $2.3 billion in profits
Online reports, according to Cointelegraph, blockchain intelligence company Arkham said that the German government missed out on more than US$2 billion in profits after selling Bitcoin 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 US$57,900 and a total value of over US$2.89 billion. Arkham data shows that the move cost the German government more than US$2.35 billion. If held so far, the value of these bitcoins will reach US$5.24 billion, because Bitcoin has risen by more than 80% since its sale. Miguel Morel, founder of Arkham, said that the sales model was rushed and did not optimize market impact and profitability. Instead, it was sold at market prices on five different exchanges, seemingly to gain more liquidity.
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