Finland Is Selling 2,000 Bitcoin Seized in A Darknet Investigation in 2016
“Have fun staying poor” is what Crypto Twitter thinks of Finland's this move.
Tulli, the Customs department of Finland, has decided to sell nearly 2,000 Bitcoin, worth over $68.2 million at current BTC prices BTC -1.59% Bitcoin / USD BTCUSD $ 48,785.50
-$775.69-1.59% Volume 37.51 b Change -$775.69 Open $48,785.50 Circulating 18.89 m Market Cap 921.67 b 1 d Bitcoin A Smart Hedge For Investors, says Chairman of $100 Billion Starwood Capital Group 1 d Bitcoin Miners HODLing: Marathon Mines 53% Less BTC in Nov., Hut 8 Producing Each BTC at A Cost of $3k 1 d Crypto Market Tanks: Bitcoin Correlation with S&P 500 Reaches 2021 High & USD Longs at Highest Level since June 2019 .
Four years ago, the local authorities seized these Bitcoin in 2016 in connection to a Darknet drug-trafficking investigation. During this time, the seized crypto asset has surged 100x in value.
“On behalf of the Customs Act, we had the option of handing them over to another government agency or some other party and destroying them […]We came to the conclusion that alternatives other than sales are not realistic,” said ekka Pylkkänen, Tulli CFO on the matter of using an intermediary or selling the BTC stash itself.
The proceeds from the sale will be sent to the country’s Ministry of Finance.