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Bulgaria’s Big Missed Opportunity: Could the Country Have Been Saved from Debt?
In a shocking revelation, it has emerged that Bulgaria could have saved itself from debt if only it had held onto its 2018-issued Bitcoin reserves. The country sold off its massive stash of BTC in 2018, which now valued at over $25 billion, far exceeding its outstanding debt of $24 billion.
According to reports, Bulgaria dumped approximately 213,500 Bitcoins back then, with a market value of around $3.5 billion at the time. This staggering amount is equivalent to one-fifth of the country’s state debt. Had the government held onto this massive reserve, it could have wiped out its entire national debt and potentially saved itself from financial distress.
As the world continues to grapple with the rise of decentralized currencies, Bulgaria’s decision has been met with widespread criticism. Many are questioning whether the government should have taken a more proactive stance in managing its assets.
This development comes as Bitcoin’s market value soars to new heights, with prices reaching an astonishing 118,624 USD, marking a 6.71% increase over the past week and a whopping 10.69% growth over the past month. The cryptocurrency’s 1-month chart starkly highlights that it has not dipped below $115,000.
This missed opportunity serves as a harsh reminder of the importance of forward thinking in asset management.
Source: www.bitcoinbazis.hu
