There are few who hit their heads on the wall because they did not rush to climb earlier in the world’s most subversive economic chariot. The world of Bitcoin of course, which continues to climb and makes a millionaire who has the mind and wisdom to deal seriously with it.
In line with the largest e-currency exchange, Coinbase, a Bitcoin is worth 16,699 dollars today, even going up in a month of 6,000 dollars. So imagine the surprise of the country’s political world when they discovered that Bulgaria has so much stock of Bitcoins that can repay 18% of its national debt of 14 billion euros!
The term “discovered” is however slightly misleading, as they did not just sit on a treasure chest. The collection of digital coins was confiscated in a large anti-corruption operation. How can you seize Bitcoins is not, of course, very clear, but the Bulgarian authorities know how!
Back in May 2017, when a Southeast European Law Enforcement Center in Alleged Customs Fraud, a joint initiative for customs fraud in South East Europe, was arrested, a spy of organized crime was held in the possession of the batman. And to be accurate, 213,519 Bitcoins! In May the treasure was worth € 424 million, but today it has reached € 2.5 billion and continues to climb.
The question that now arises is whether Bulgaria will redeem it directly to alleviate its national debt or whether it will wait for it to repay it all and to make a profit? Given, of course, Bitcoin’s ongoing upward course, which is also the risk factor here.