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Thursday, December 7, 2017

The Bulgarian government... Bitcoin billionares!


Just 7 months ago the Bulgarian government cracked down on organized crime. Among the assets sized - Bitcoin worth about $500 million at the time.

The criminals actually had a pretty tech savvy operation going - at once point, putting a virus on the countries customs enforcement computers, that allowed them to waive all fees for goods they imported.

Value of those sized Bitcoins today - nearly $4 Billion! The Bulgarian authorities are still holding them now, and haven't announced any plans to sell, yet.

Unfortunately for the US Government, when they were in a similar situation after seizing Bitcoin's from the darknet marketplace 'Silk Road' they sold $8.1 million worth at auction in 2015. Today's value, over $3 billion. 

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Author: Mark Pippen
London News Desk