Bulgaria’s GDP is about $52.4 billion (2016), so it is quite a shock that the Bulgarian Government is sitting on
an approximate $3 billion worth of Bitcoins seized in an anti-corruption operation back in May. Putting this into a little more glaring context, Bulgaria is holding 18% of the national debt in bitcoins. Bulgarian law enforcement jointly worked with the Southeast European Law Enforcement Center (SELC), a regional organization comprised of 12 member states,
to bust a sophisticated organized-crime network, arresting twenty-three Bulgarian nationals and seizing a total of 213,519 bitcoins. Full article at Zerohedge: http://www.zerohedge.com/news/2017-12-08/bulgaria-government-shocked-discover-it-owns-3-billion-bitcoin Fascinating read!
an approximate $3 billion worth of Bitcoins seized in an anti-corruption operation back in May. Putting this into a little more glaring context, Bulgaria is holding 18% of the national debt in bitcoins. Bulgarian law enforcement jointly worked with the Southeast European Law Enforcement Center (SELC), a regional organization comprised of 12 member states,
to bust a sophisticated organized-crime network, arresting twenty-three Bulgarian nationals and seizing a total of 213,519 bitcoins. Full article at Zerohedge: http://www.zerohedge.com/news/2017-12-08/bulgaria-government-shocked-discover-it-owns-3-billion-bitcoin Fascinating read!
That is quite a fascinating story indeed and the government must have been so ecstatic realizing that they have an asset they can sell for billions of dollar anytime they want to. I am hoping that the government will use the proceeds (in case they will decide to sell) for programs meant to benefit the people and not allow anyone to use for any other purpose or worst let the money go to corrupt officials. This is just like an unforeseen blessing for them and they should use the money that make many people smile. This should also be serving as a great warning for anyone or any organization not to utilize Bitcoin for any criminal activity as the government still has the power to confiscate the cryptocurrency used illegally. At the same time, the government has to make that any such an operation must be above board and not use their power to commit another illegal act. Congrats to Bulgaria!!
? unless there is more which hasn't been disclosed or someone sold them out from the beginning! Anyway something positive from this, the government gets a chance to improve its computer systems after it was compromised just hope they don't dump those bitcoins in their possession.
