Germany Selling of 49,858 BTC Cost them Huge Profits - page 3.

Faisal2202

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Quote from: Alpha Marine on November 15, 2024, 09:49:21 AM

They did not buy any of those bitcoins. All those bitcoins were seized and they got them for free so whatever price they sold them for would be profit. They're not in the business of making a profit out of the sales. If they wanted a profit they would not have sold everything off at once.
It's not their loss, it's actually their profit. They got the BTC for free and made millions of dollars out of it.
Selling when they did must have been something that have been discussed way earlier and that was only a predetermined date irrespective of the price of bitcoin.

That's a good point, they seized them, so at whatever price they sold them, it's a total profit, and they can use that money for any development. So considering your bolded line, do you think the USA wants to make a profit as they are not selling the seized BTC yet, although they have plans to sell BTC seized from Silk Road?

I know it's not their loss, but extra profit won't do them any harm yeah. Just thinking what emergency forced them to sell all at such price.

Helena Yu

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Quote from: Faisal2202 on November 15, 2024, 09:37:11 AM

If they had waited 2 to 3 months more, they would have been making $1.84 billion USD extra in profit if sold at $90k.

And then in the next year you will say they're made mistake to not hold until the next year, because they would have been earn $x if they sold at $x.

AFAIK there was no news where Germany bought Bitcoin, all the articles only said they're own Bitcoin, which mean high likely they own it by seizing criminal funds. Germany should be happy because they made 2,642 Billion Euros profit without any risk and cost to bought it.

tbct_mt2

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Quote from: Faisal2202 on November 15, 2024, 09:37:11 AM

I know the news is very old about Germany selling 50k BTC, and this forum was full of such news, as most of us were in confusion about why they planned to sell these BTC when they could sell them at peak. So now we have seen BTC setting an ATH of $93,477, and Germany sold around 49,858 BTC at an average price of $53k.

Remember that German government is not Bitcoin investor. They simply do their job which does not require them to time the market and find the ATH in this market cycle to sell bitcoins. I don't think German government are regretful about their sale months ago, they did it and completed their job with these bitcoin.

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Timing peak and exiting at the right moment is not possible for everyone but at least they could have given it a second opinion Although I am no one to judge their decision, it's their loss Tongue

But they could have made more profit don't get what's the hurry to sell them.

If you are an investor or trader, you will try to find ATH, take profit with your bitcoin but government has many other things to do, and their government works by money from their citizens as tax payers. They don't work with money from seized bitcoin at any price of bitcoin on the market.

How German government got these bitcoins defines how they treat these bitcoins. If they invest their national treasury in Bitcoin, like El Salvador or Bhutan, their action would be very different.

avikz

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Quote from: Faisal2202 on November 15, 2024, 09:37:11 AM

I know the news is very old about Germany selling 50k BTC, and this forum was full of such news, as most of us were in confusion about why they planned to sell these BTC when they could sell them at peak. So now we have seen BTC setting an ATH of $93,477, and Germany sold around 49,858 BTC at an average price of $53k. So they made a total of 2,642,454,000 USD back in July or August. If they had waited 2 to 3 months more, they would have been making $1.84 billion USD extra in profit if sold at $90k.

Timing peak and exiting at the right moment is not possible for everyone but at least they could have given it a second opinion Although I am no one to judge their decision, it's their loss Tongue

But they could have made more profit don't get what's the hurry to sell them.

If I am not wrong, I believe German government had confisticated those Bitcoins. So it was not an investment for the government. So I believe the y cannot hold it for longer period just to make profit out of this. That's why they had to sell of their holdings to recover the money. There was no speculation at all.

That's how usually happens in such scenarios. The enforcement authorities are bound to sell of the criminal proceeds in a time bound manner as directed by the court. I think that is what happened here!

Alpha Marine

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They did not buy any of those bitcoins. All those bitcoins were seized and they got them for free so whatever price they sold them for would be profit. They're not in the business of making a profit out of the sales. If they wanted a profit they would not have sold everything off at once.
It's not their loss, it's actually their profit. They got the BTC for free and made millions of dollars out of it.
Selling when they did must have been something that have been discussed way earlier and that was only a predetermined date irrespective of the price of bitcoin.

Finestream

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They probably didn’t see this moment coming, or maybe they were already content with that price. What if no bull run had happened? They still wouldn’t have been able to sell, and that could’ve been money in the bank for them. Plus, they don’t really care much about that as they don’t have an investor’s mindset when it comes to those bitcoins since they were just seized back in January 2024.

German police claim largest Bitcoin seizure ever — more than $2 billion recovered in ongoing video piracy investigation

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German police confiscated over $2 billion worth of Bitcoins (BTC) during investigations into the movie2k.to pirate movie streaming site, according to a report from Der Speigel. This is the largest-ever currency seizure by German law enforcement according to Germany’s State Criminal Police Office (LKA).

According to the Der Speigel report, 50,000 Bitcoins were secured by police in Saxony during the investigation of two men (aged 40 and 37) suspected of running a German portal for movie2k.to through May 2013 and squirreling away their profits as cryptocurrency. Remember — at that time, 50,000 BTC wasn’t worth anywhere near the $2 billion+ it is now. In 2013 BTC started the year valued at $13 and ended at about $750. If we say the funds were converted to BTC at a value of around $500, the 50,000 Bitcoins would have represented about $25 million in hidden loot.

Faisal2202

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I know the news is very old about Germany selling 50k BTC, and this forum was full of such news, as most of us were in confusion about why they planned to sell these BTC when they could sell them at peak. So now we have seen BTC setting an ATH of $93,477, and Germany sold around 49,858 BTC at an average price of $53k. So they made a total of 2,642,454,000 USD back in July or August. If they had waited 2 to 3 months more, they would have been making $1.84 billion USD extra in profit if sold at $90k.

Timing peak and exiting at the right moment is not possible for everyone but at least they could have given it a second opinion Although I am no one to judge their decision, it's their loss Tongue

But they could have made more profit don't get what's the hurry to sell them.

Topic: Germany Selling of 49,858 BTC Cost them Huge Profits - page 3. (Read 351 times)