The post Breaking: The Royal Government Of Bhutan Now Holds Over 12,500 Bitcoins Worth $1 Billion! appeared first on Coinpedia Fintech News
Bhutan, the Himalayan Kingdon known for prioritizing happiness over wealth, has quietly emerged as a major player in the crypto world. According to recent data disclosed by Arkham on the X platform, the market value of Bhutan’s Bitcoin holdings has surpassed $1 billion.
This significant milestone comes as Bitcoin is hitting record highs, reflecting the growing interest and investment in cryptocurrency by the Bhutanese government.
Bhutan Government Holds Over 12,500 BTC
According to Arkham Intelligence data, Bhutan’s government-owned Druk Holdings has reportedly accumulated over 12,500 BTC, marking a significant commitment to digital assets amid growing interest in crypto as a strategic asset.
The Royal Government of Bhutan now owns $1 Billion in Bitcoin. pic.twitter.com/y8MQdCqMDy
— Arkham (@ArkhamIntel) November 11, 2024
Druk Holdings now holds exactly $1,033,855,613.15 in the coin. While the government has not necessarily bought or announced new mining, the ongoing bull rally has increased its valuations. As of writing, Druk Holdings holds 12,568 BTC overall, worth approximately $1 billion. It remains in the list of the top countries with BTC portfolio.
Other Crypto Holdings
Notably, Bhutan also holds other assets in the Druk Holdings wallet. It also holds 656.039 Ethereum worth over $2 million, 8.889 KIBSHI tokens worth $128.98, and 69 million BOBO tokens of $98.67.
Bhutan entered the Bitcoin landscape out of economic necessity. After the COVID-19 pandemic, one of its biggest industries, Tourism faced a huge blow. As a result, the country pivoted and deployed its excess energy resources to start mining Bitcoin. Bhutan took a more proactive approach by investing directly in Bitcoin mining.
Will US Build A Bitcoin Reserve?
Notably, the United States is looking to build a Bitcoin reserve under Donald Trump as he had promised during his campaigns. If Trump’s administration does pursue a Bitcoin reserve, it would mark an exceptional shift in US financial policy, which could influence global markets and mark a new era in digital asset adoption among nation-states. Corporate firms are also scooping up a significant share of the remaining Bitcoin in circulation. Just recently, MicroStrategy bought an additional 27,200 BTC, taking its total stash to 279,420 BTC.
Bhutan, which began building its Bitcoin reserves several years ago via mining, is now an example of how smaller nations might navigate digital asset adoption. Bhutan’s significant investment in Bitcoin underscores its strategic approach to diversifying its financial assets and capitalizing on the potential growth of digital currencies.
