Bitcoin As Reserve Currency?
According to Business Insider Polska (https://businessinsider.com.pl/finanse/kryptowaluty/bulgaria-posiada-200-tys-bitcoinow-to-18-proc-dlugu/lrf2gjk?utm_source=fb&utm_medium=social&utm_campaign=fb_bi), the Bulgarian government sits on 200,000 Bitcoins.
The Bitcoins were confiscated in the course of a crackdown on a criminal group.
At the time of confiscation, these Bitcoins were worth around $ 500,000. Curently, they are worth around $ 3 billion.
The question is, what the next step of the Bulgarian authorities will be?
The eventual sell order of this size could have an impact on the price of Bitcoin.
Comments
In the past, you could read articles about crypto currencies getting the attention of major banks. However, the concept of crypto currencies as reserve currencies - that is new.
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