I just came across a news story about Bulgaria and crypto that is simply absurd. This country made one of the biggest financial mistakes in history when it comes to Bitcoin.

In 2017, Bulgaria confiscated no less than 213,500 BTC from illegal operations. It seemed like a victory at the time, right? Wrong. In 2018, they decided to sell almost everything for about $15 thousand per Bitcoin, raising around 1.7 billion dollars.

Now comes the worst part: with Bitcoin priced at $78 thousand today, that same Bitcoin they sold would be worth over $25 billion. Let me repeat that — $25 BILLIONS. Just this amount of crypto could have paid off their entire national debt.

This is one of the clearest cases of how a lack of understanding about digital assets can cost governments absurdly expensive. Bulgaria had a treasure in their hands that they failed to recognize as such. Today, it’s practically a crypto news history lesson that every country should study.

It’s frustrating to see how decisions made years ago still determine the financial fate of entire nations. But that’s how the market works.