PANews reported on May 20 that, according to Cointelegraph, blockchain intelligence company Arkham said that the German government missed out on more than $2 billion in profits after selling bitcoin in 2024. Previously, a wallet labeled "German Government (BKA)" sold 49,858 BTC in multiple transactions in June and July 2024 at an average price of $57,900, with a total value of more than $2.89 billion. According to Arkham, the move cost the German government more than $2.35 billion, and if held to date, the bitcoins would be worth $5.24 billion, as bitcoin has risen by more than 80% since it was sold. Miguel Morel, founder of Arkham, said that the sale model was rushed, did not optimize market impact and profitability, and was actually sold at market prices on five different exchanges, seemingly to obtain more liquidity.