Finnish customs wants to sell bitcoins worth about $ 75 million.
About 2 thousand coins were confiscated back in 2016 and then cost about $ 850 thousand.
This story has become another example of successful BTC hodling..
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Finnish Customs has decided to put up for sale almost 2 thousand confiscated BTC, which it has been keeping since 2016.
The Finnish customs, also known as Tulli, unexpectedly turned out to be a faithful bitcoin (BTC) holer. She kept confiscated bitcoins for 4 years and only now made a decision to sell them, inspired by an unprecedented rally in cryptocurrency..
Unexpected benefits of confiscation
According to the regional publication Yle, in 2016, Finnish customs confiscated 1,981 BTC from a wanted drug dealer. Since then, she, in fact, has been the hodler of these bitcoins. Only now, against the backdrop of the dizzying growth of military-technical cooperation, the customs management decided to cash these coins.
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At the time of the confiscation, the total value of bitcoins was about $ 850,000. However, the leisurely Finns were in no hurry. This patience has paid off. Waiting for the cryptocurrency to update historical highs, customs officers increased the size of the confiscated fortune to $ 75 million.
It is worth noting that in 2018, Tulli’s management was already thinking about selling the confiscated bitcoins at an auction. However, in the end, the customs officers were stopped by fears that as a result, the coins would again end up in the hands of criminals and would be used for illegal activities..
Keep and you will be rewarded …
Of course, it cannot be argued that Tulli deliberately moved cryptocurrency, relying on the price increase. Rather, officials saw BTC as a potential threat to law and order..
Can Government Regulate Bitcoin?
The cryptocurrency has received support from a variety of factors lately, including the COVID-19 pandemic, which has created unprecedented financial and economic uncertainty around the world. In response to the crisis, monetary authorities everywhere printed and injected huge amounts of new money into the economy, fanning inflationary concerns..
As a result, an essentially non-inflationary digital currency with a predetermined emission volume began to attract more and more investors, both institutional and retail..
One of the striking examples of this trend is Microstrategy and personally its CEO Michael Sailor, who has gone from a bitcoin skeptic to its ardent enthusiast..
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