A fresh analysis reveals that the approximately 213,500 Bitcoin Bulgaria reportedly sold in 2018 is now valued at around $25 billion—roughly 79–82 percent of the country’s current national debt.
Back in 2018, Bulgarian authorities reportedly unloaded the seized Bitcoins, which were initially confiscated during a crackdown on a criminal network in late 2017. At the time, the haul was estimated to be worth about $3–3.5 billion—covering nearly one‑fifth of the nation’s public debt.
Today, with Bitcoin’s dramatic price surge—now pricing each coin at more than $117,000—that same stash would be equivalent to a staggering $25 billion. That sum rivals Bulgaria’s total national debt, estimated at roughly $24–31 billion depending on the source. mitrade.com
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. Others lament the opportunity cost, noting that even retaining a modest portion (10–20 percent) 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.
