🏭 With more reserves than El Salvador, this country has quietly become a major Bitcoin holder!
Recently, a country has quietly done something big in the cryptocurrency field and has become an important player in the cryptocurrency field!
According to the latest data from Arkham Intelligence, Bhutan currently holds more than 13,036 BTC, worth about $785 million. Now, Bhutan, a country at the foot of the Himalayas, holds more Bitcoin than El Salvador.
Moreover, Bhutan's Bitcoin reserves come entirely from its own mining operations, which is very different from countries such as El Salvador, the United States, and Germany that often increase their Bitcoin reserves through purchases or judicial seizures.
It is reported that Bhutan's Bitcoin mining business is managed by Druk Holdings, and its main mine is located on the original site of an abandoned educational city. This information has been confirmed by Arkham satellite images.
Moreover, Bhutan's investment in Bitcoin mining is extremely large, accounting for about one-third of its gross domestic product (GDP), or about $3 billion, which further shows that the country regards Bitcoin as an important tool to enhance economic stability and growth.
Bhutan currently ranks fourth among countries in the world in terms of government Bitcoin reserves, surpassing El Salvador, which has attracted much attention for adopting Bitcoin as legal tender.
El Salvador currently holds 5,877 Bitcoins, worth approximately $354 million. The “1 Bitcoin a Day” plan promoted by the President of El Salvador has been steadily increasing its Bitcoin reserves!
Finally, as Bhutan continues to steadily increase its Bitcoin reserves, it remains to be seen whether it will follow El Salvador’s lead and adopt Bitcoin as legal tender.
🗣 Conclusion:
Bhutan’s series of significant moves in the field of Bitcoin not only highlights the country’s forward-looking thinking on cryptocurrencies, but also reflects its strategic intention to use digital assets to promote economic growth.
This action may not only reshape the global cryptocurrency market landscape, but also reflects Bhutan’s commitment to sustainable development. Whether it will legalize Bitcoin will also become the next focus of the market.
💬 Do you think Bhutan will become a role model for other countries in the field of cryptocurrency? Share your insights in the comments section!
