An amount through which the country would be able to repay a large part of its debts. However, this poses risks — because it could lead to a collapse of bitcoin, say a number of media quoted by Deutsche Bitcoin bulgaria. In recent weeks, a number of foreign media have glanced at Bulgaria. The reason: the poorest country in the EU has suddenly been the owner of a valuable treasure — overbitcoins confiscated within a special operation in May this year.
At the time of confiscation, the cost of those bitcoins was about million euros. But over the course of the crypto-hit, the overbitcoins turned into 3.
For this purpose, the country must first sell the bitcoin — and that is where the problem lies: if Bulgaria releases such a large amount of bitcoin at once, the price of the crypto will fall drastically, writes the German Business Insider. So far, the Bulgarian government does not say what it intends to do with its new treasure. In addition, confiscated bitcoin are not yet officially owned by the state, as the investigation is not over, says Business Insider, quoting Frankfurter Algemaine Zeitung.
Within four auctions conducted bitcoin bulgaria andthe FBI sold overbitcoins.