Happycoin.club - According to the analytics company Arkham, the Kingdom of Bhutan holds 13,029 bitcoins worth $755 million. In terms of reserves of the leading cryptocurrency, this country with a population of less than a million people is ahead only of the United States, China and the United Kingdom. Bhutan also overtook El Salvador and took fourth place among countries holding bitcoins. Together, these countries control more than 2.2% of the BTC supply.
Interestingly, unlike other countries where Bitcoin balances have been replenished through sanctions on crypto companies, confiscations, or, in the case of El Salvador, daily purchases of BTC, Bhutan has increased its reserves through mining.
Arkham analysts reported that the Kingdom has been actively mining Bitcoin since early 2023. Having created a state investment arm, Druk Holdings, the country's authorities used the mountainous terrain and hydroelectric resources to create several mining facilities, investing about $500 million in them.
Mining has so far earned each Bhutanese citizen about $1,000. The country sells a portion of the proceeds from cryptocurrency mining using the Kraken exchange. However, despite this, the Kingdom of Bhutan has kept most of the bitcoins mined in the country as reserves.
