The German government's Bitcoin bonanza… I'm still trying to get my head around it.
So, these people just offloaded 50,000 BTC they had collected from some piracy website called Movie2K. Some jackpot, huh? Come on, back in those days of 2013, it was peanuts compared to now. Fast forward to 2024, boom, we're talking in the billion-dollar range.
I can't help but wonder if they made the right call there, selling it all off. I mean, surely it's just standard procedure for confiscated goods and all, but man, you know, if they'd just hodled a little longer.
Then again, I guess governments aren't really in the crypto speculation game. Wild to think about those coins, how much their value has skyrocketed from $50 million to more than $2 billion? Growth that keeps crypto enthusiasts up at night, dreaming of Lambos.
What really had me chuckling, however, were the trolls sending minuscule amounts of Bitcoin to the now-empty wallet. "HFSP German government"? This memo attached to a the transaction of about a dollar from a random account is just classic crypto humor.
https://x.com/BTC_Archive/status/1812086942349041719?t=GoCrQ74lSCpM_yhOCR3c2Q&s=19
I mean, I get it, selling kind of feels shortsighted to real hardcore believers in Bitcoin. But let's be realistic: the German government probably doesn't give a hoot about potential future appreciation.
During all of this, I've been watching the value of Bitcoin like a hawk. It sure has been a rollercoaster with dumps and recoveries, then dumps again, but here we are over the $62,000 highs. Pretty resilient little bugger, isn't it? I'm no financial advisor but, for some reason, it gives the impression Bitcoin might have some real staying power.
Now, the Mt. Gox situation.
We are talking about 142,000 BTC potentially hitting the market, that's nearly three times what Germany just sold. I am super curious to see how many former Mt. Gox users actually sell. Given that they have waited a decade, will they cash out or ride the crypto wave a little further in?
I know I would be tempted to hold, given how much these coins have appreciated. All this action in the crypto world, government seizures, exchange collapses, and resurrections, really is confirming my every reason for being interested in the first place.
It wasn't just the tech or the gains, it was the stories, drama, and all the plot twists, never a dull moment.
I am definitely on the lookout for what is coming up next. Who knows? Maybe the next big crypto story is just around the
Posted Using InLeo Alpha