According to Spot On Chain monitoring, the German government sold all of its 49,858 bitcoins it held from June 19 to July 12, with a total value of approximately 2.87 billion dollars, at an average selling price of 57,600 dollars. However, based on Bitcoin's latest breakthrough price of 120,000 dollars, the current value of these bitcoins would reach 5.98 billion dollars, which means the German government missed out on a potential profit of up to 3.11 billion dollars.