A Seized Bitcoin Stack Could Be Bulgaria’s Golden Ticket

April 25, 2023

After seizing 213,000 bitcoin in 2017, Bulgaria now has an opportunity to become one of the wealthiest countries on earth.

Bulgaria, a small country located in Southeast Europe, nestled between Romania and Greece, is set to become one of the wealthiest countries in the world.

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.

To continue at original source https://bitcoinmagazine.com/culture/the-future-for-bulgaria-seized-bitcoin

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