The Eurozone Welcomes Its 21st Member: Bulgaria's "Old Debt" Turns Around Unexpectedly

European Central Bank President Christine Lagarde recently announced that Bulgaria has officially joined the Eurozone family. This decision expands the European Central Bank Governing Council to 27 members, further consolidating the Eurozone's position in the global economy.

What is even more noteworthy is a case mentioned by Bulgarian Central Bank Governor Dimitar Radev. As early as 2018, the Bulgarian government confiscated and auctioned off 213,500 bitcoins, which were publicly sold at a price of $3.5 billion. However, times have changed, and the market value of these bitcoins, once considered assets, has now risen sharply, far exceeding the country's total public debt.

From an economic decision-making perspective, joining the Eurozone is not merely a currency system transition for Bulgaria but also signifies an elevation of its status within the European financial system. Radev emphasized that this is the result of comprehensive considerations—both an economic strategic choice and a deep political and institutional reflection.

In stark contrast, a past asset disposal decision now takes on a completely different meaning amid the wave of cryptocurrency asset values.