Bitcoin’s rate has been low for a long time.
Customs has realized the bitcoins it had. PDO
In its press release, Tulli says that it has sold its legal virtual currencies that were forfeited to the state during the summer. The object of realization was 1889.1 bitcoins.
The sale of bitcoins generated a total of around 46.5 million euros for the state. Customs says that it has yet to realize the associated currencies of the sold bitcoins. Their value is “some hundreds of thousands of euros”.
The sale of the seized bitcoins was handled by two virtual currency brokers, which were tendered in late spring.
The exchange rates of Bitcoin and other cryptocurrencies have been low for a long time. In November of last year, the bitcoin rate was almost 60,000 euros, while at the time of writing it is just under 23,000 euros. If the customs had sold the seized bitcoins at the end of last year, it would have generated sales income of approximately 95 million depending on the time of sale.
Customs has confiscated the bitcoins in question in connection with the investigation of drug and doping crimes. There are still around 90 bitcoins in the possession of the Customs that are awaiting legal force. The customs does not provide more details about the amounts of other seized cryptocurrencies.