In July, Germany sold nearly 50,000 Bitcoins that had been seized, at an average price of around $53,000 per coin, resulting in a total revenue of $2.8 billion. However, the value of those Bitcoins has since surged, with the current worth estimated at around $4.5 billion. This means Germany missed out on an additional $1.7 billion in potential profits.
Meanwhile, El Salvador, the first country to adopt Bitcoin as legal tender, has seen a profit of $24.5 million from its holdings of approximately 6,154 BTC (valued at $510.1 million). This outcome highlights the success of President Nayib Bukele’s bold move to integrate Bitcoin into the national economy.
Bitcoin’s record-breaking rally has largely been driven by expectations of favorable policy changes following Trump’s election victory. This event has also fueled gains in Bitcoin-related stocks as well as pushing the S&P 500 index to new highs.