The Royal Government of Bhutan recently received 2.96 Bitcoin (BTC) that they earned from mining and now holds around 12.562K BTC, which is worth a staggering $1.02 Billion.
According to the blockchain intelligence platform Arkham Intelthe Royal Kingdom of Bhutan received a series of Bitcoin payments from Asset Mining and Staking firm Foundry Digital 23 hours ago.
Bhutan, The New Bitcoin Kingpin
Since yesterday, BTC, which was trading around $77K, has surged by 2.65%, and is trading at 81, 236 (at the time of writing). This surge seems to set in motion a new rally era for Bitcoin and other cryptos as well. As a result of this, Bhutan’s BTC holdings value grew by 2.38%, to 23.59 Million.
We had earlier reported about Bhutan’s mining endeavors which intend to utilize its hydropower that accounts for 30% of Bhutan’s GDP. Bhutan also received a BTC mining reward of 4.1BTC in two different transactions from ANT Mining firm a day ago.
Apart from BTC, the isolated and sparsely populated country also holds 656.039 Ethereum worth 2.06 Million. In total, the Royal Kingdom of Bhutan holds $1,018,291,675.99 worth of cryptocurrencies. Bhutan holds fifth place amongst the countries with the highest BTC holdings.
As of November 10, the US holds the most BTC with 207,189 BTC under its name, China holds 194,000 BTC, the UK holds 61,000 BTC, and Ukraine holds 46,351 BTC.
Bitcoin’s consistent surge was triggered, especially after pro-Bitcoin Republican Donald Trump won the US Elections 2024. Our recent Bitcoin Prediction aligns with the expectation of a more favorable regulatory environment under Trump, which could further fuel BTC’s upward trend.
Also Read: Bhutan Moves $66.1M in Bitcoin to Binance, Retains Significant Holdings
SOURCE
<p>The post Bhutan Govt Becomes Bitcoin King? Holds $1 Billion Worth BTC first appeared on CoinBuzzFeed.</p>
