A Seized Bitcoin Stack Could Be Bulgaria’s Golden Ticket | ZeroHedge
The reason for this is its possession of 213,000 bitcoin, which its authorities seized from a group they labeled as criminals in 2017. According to the South East European Law Enforcement Center (SELC), the group hacked the Bulgarian customs agency s computers and made changes to the system so that their partner companies could import goods while avoiding paying taxes on them.
Immediately following the crackdown, the bitcoin seized was worth about $500,000, however, it would now be worth closer to $6 billion dollars, as of April 2023. While the details around the BTC seizure are unclear, and it is not totally clear whether the country still holds that bitcoin or what it plans to do with the stack if it does, the potential of a nation like Bulgaria holding this much BTC is worth exploring.
As the value of bitcoin is, in the view of many, set to go up a lot higher still in the coming years, Bulgaria could stand to become very wealthy.