The US and Germany lost a record $ 18 billion on early bitcoin sales

The governmental decisions of Germany and the United States to sell their bitcoin reserves at an early stage resulted in huge financial losses. The states lost more than $ 18 billion in revenue to the treasury.

Germany sold 50,000 BTC, receiving about $ 2.88 billion, but at current prices, this amount of assets would be worth about $ 4.4 billion. Bundestag member Joanna Kotar criticized the government for its «short-sightedness,» emphasizing the need to preserve such assets.

The United States sold 195,091 BTC at auctions, receiving only $ 366.5 million. Currently, this volume of cryptocurrency is estimated at more than $ 17 billion, which means a lost profit of $ 16.6 billion. Bitcoin Magazine CEO David Bailey called on the new US presidential administration to create a state reserve of bitcoins, as delaying could deprive the country of potential benefits in the future.

Analysts suggest that if Donald Trump’s administration creates a reserve of up to 5% of the total supply of bitcoin, it will raise the status of the cryptocurrency to the level of gold, which could significantly affect its position in the global market.

As a reminder, after winning the election, Donald Trump reaffirmed his promises to the crypto community to create a bitcoin reserve in the United States, which he made at the Bitcoin 2024 conference in Nashville. At the same time, the politician said that on the first day he would fire Securities and Exchange Commission Chairman Gary Genslerand put an end to policies that prevent crypto investors and companies from using digital assets. The former US president then promised to implement a complete transformation of US policy on bitcoin and cryptocurrencies if he is re-elected.