Binance Founder: The Value of Bitcoin Sold in Bulgaria Previously Could Settle Most of Its Debt 💰
Changpeng Zhao, known as CZ and the founder of the leading cryptocurrency exchange Binance, commented on Bulgaria's sale of its Bitcoin holdings earlier. CZ pointed out that the value of this holding today would cover the entire national debt of the country. 🇧🇬
Bulgaria had owned about 213,500 Bitcoins in 2018, which the government later sold for $3.5 billion. At that time, this amount covered one-fifth of the country's national debt. 💸
But at current prices, this amount of Bitcoin would be worth $25.24 billion, which exceeds Bulgaria's total national debt of $24 billion. 🚀
CZ posted a graph showing how Bulgaria missed the opportunity to use Bitcoin to settle its debt, stating: "Bitcoin has the potential to solve most public debts." 📉
According to a recent review, governments around the world collectively hold about 463,000 Bitcoins, equivalent to 2.3% of the total supply of the digital currency. 🌍
Both the United States and China are among the largest official holders of Bitcoin! The United States holds more than 198,000 Bitcoins, while China holds nearly 190,000 Bitcoins, according to official data. 🇺🇸🇨🇳
Source: Binance founder's account on X and Cointelegraph website. 📰