2026-01-10 20:32:35

Imagine if we hadn't been in such a rush to sell back then. In 2017, the Bulgarian government sold off 213,500 bitcoins in one go. At that time, Bitcoin wasn't well regarded; who would have thought?

And now? Based on today's prices, those coins could have paid off the entire country's national debt long ago. Almost a perfect solution to a debt crisis just slipped away. 💸

This isn't just idle talk, but a very real issue: how high the opportunity cost and decision-making cost of asset timing can be. From a national asset management perspective, this case is a classic—early misjudgment of an emerging asset class directly translated into astronomical opportunity costs.

In plain terms, the history of Bitcoin is a story about patience and perception.

BTC2,95%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

22 Likes

Reward
22
8
Repost
Share

Comment

0/400

OnchainHolmes

· 11h ago

The bunch of people in Bulgaria are really disappointing. They sold 210,000 Bitcoins directly, and now crying over spilled milk won't help. Who the hell could have imagined back then? Just lacked vision. What does this tell us? It's really about time cost. Early on, everyone looked down on it, and now we watch others take off. Speaking of which, how many people are repeating this mistake now?

View OriginalReply0

ForkTrooper

· 01-12 04:10

Bulgaria's recent move is truly a textbook-level "loss." Thinking about it now, I feel sorry for them. If only I had known to hold, what a pity. This is what we call the cost of cognition. Who could have imagined it back then, right?

View OriginalReply0

DisillusiionOracle

· 01-11 11:46

The operation in Bulgaria's Napo is truly a textbook-level cautionary tale; I should have just HODL'ed if I had known earlier.

View OriginalReply0

GateUser-1a2ed0b9

· 01-10 21:02

210,000 coins, how much are they worth now? That's why I say the government doesn't understand cryptocurrency.

View OriginalReply0

DarkPoolWatcher

· 01-10 20:59

Bulgaria's move this time is truly brilliant; over 210,000 Bitcoins are gone just like that. At the current price, it would definitely be a turnaround. If I had known earlier, I would have hodled, but unfortunately no one can predict the future, right? This is why people in the crypto circle always talk about "compound interest over time." The opportunity cost of missing out is terrifying to consider. Really, sometimes government-level decision-making mistakes have a bigger impact than retail investors losing money. Honestly, who really believed in Bitcoin in 2017? Back then, it was all skepticism. But that's why we're still here now; some people just can't wait. This case could be used as a textbook example in an MBA course—an outright cautionary tale.

View OriginalReply0

FloorSweeper

· 01-10 20:57

lmao bulgaria really pulled the ultimate paper hands move... imagine selling 213k btc at market bottom thinking you're being smart. that's not just missing the trade, that's missing the entire cycle. institutional level weak signals right there.

Reply0

BlockchainDecoder

· 01-10 20:54

According to research, the sale in Bulgaria is indeed a textbook-level case of a decision-making mistake. From an asset allocation perspective, their core error was not in selling, but in their lack of understanding of emerging asset classes—this has been extensively discussed in Taleb's Black Swan theory.

View OriginalReply0

DeepRabbitHole

· 01-10 20:37

The 210,000 in Bulgaria is really incredible. It hurts just thinking about it now.

View OriginalReply0