Statistics show that Bulgaria's sold Bitcoins are now worth billions of dollars, raising questions about the implications of this decision.
Sale of Bitcoins in 2018
In 2018, Bulgarian authorities sold approximately 213,500 Bitcoins, which were confiscated during a crackdown on a criminal network in late 2017. At that time, the Bitcoins were estimated to be worth about $3–3.5 billion—covering nearly one-fifth of the nation’s public debt.
Bitcoin Value Surge
Since then, Bitcoin's price has dramatically surged, with each coin now priced at over $117,000. Consequently, the same stash would now be equivalent to a staggering $25 billion, rivaling Bulgaria’s total national debt, estimated at roughly $24–31 billion.
Discussion on Sales Consequences
The resurfacing of this data on social media sparked commentary from crypto figure Changpeng Zhao—better known as 'CZ'—who emphasized that 'Bitcoin can solve most public debt problems.' Economists offer mixed views: some argue the 2018 sale was a defensible move, given Bitcoin’s wild volatility and regulatory uncertainties at the time, while others lament the opportunity cost, noting that even retaining a modest portion (10–20%) could have yielded a multi-billion-dollar reserve.
As Bulgaria prepares to enter the eurozone in early 2026, the debate over how to balance seized crypto holdings resurfaces—highlighting the tension between short-term fiscal needs and long-term strategic reserves.
