In addition to the beautiful beaches and cuisine, Bulgaria has the second largest number of bitcoins in the world.
Most people familiar with the history of cryptocurrencies know that Nakamoto is the world’s most bitcoin. However, how many people know who is the second? The bitcoin confiscated by the Bulgarian government in a recent crackdown on illegal activities has made it the second-largest number of Bitcoin in the world.
In the illegal activities against the country, the Bulgarian authorities have collected a large amount of bitcoin because many criminal activities are paid by bitcoin. According to local media Novinite, in the mid-2017 arrests, the Bulgarian government seized 213,519 bitcoins, with a current market value of nearly $1.5 billion.
Although it is not known whether the Bulgarian government uses these cryptocurrencies, these cryptocurrencies are sufficient to repay 25% of the country’s national debt. Bulgaria’s hoarding of bitcoin can surpass the United States, or because the US authorities will auction any seized cryptocurrency as soon as possible. A few months ago, the US Marshals Office sold nearly 2,200 bitcoins through auctions.
Some of these bitcoins came from Shaun Bridges, an agent at the US Federal Bureau of Investigation (FBI). He embezzled some bitcoin in the FBI’s arrest of the Silk Road (dark net).
At the moment we are still unclear how the Bulgarian government will handle these bitcoins, perhaps for the “HODL” fund.
In terms of the number of bitcoins, the only entity that rivals Bulgaria is Bitfinex, which has about 163,000 bitcoins in its wallet, worth more than $1 billion. These wallets use cold storage and are likely to be used in an emergency situation.