Bitcoin

Billion

<ul class="wp-block-list">
 <li><strong>Bhutan’s Bitcoin reserve is valued at $1.1 billion, 34% of its GDP.</strong></li>
 <li><strong>Bitcoin’s price surge to $93,683.19 significantly boosted Bhutan’s holdings.</strong></li>
</ul>
<p>The Royal Government of Bhutan has <a href="https://intel.arkm.com/explorer/entity/druk-holding-investments" target="_blank" rel="noopener noreferrer nofollow">strategically </a>accumulated Bitcoin worth over $1.1 billion, representing 34% of the nation’s GDP. This significant holding stems from Bhutan’s innovative use of its vast hydropower resources to mine. Bhutan has emerged as one of the largest state-level holders of cryptocurrency. Bhutan now ranks third in govt BTC holdings, after the US and UK.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="1024" height="876" src="https://thenewscrypto.com/wp-content/uploads/2024/11/Bhutan-article-image-1024x876.jpg" alt="" class="wp-image-115062" srcset="https://thenewscrypto.com/wp-content/uploads/2024/11/Bhutan-article-image-1024x876.jpg 1024w, https://thenewscrypto.com/wp-content/uploads/2024/11/Bhutan-article-image-300x257.jpg 300w, https://thenewscrypto.com/wp-content/uploads/2024/11/Bhutan-article-image-768x657.jpg 768w, https://thenewscrypto.com/wp-content/uploads/2024/11/Bhutan-article-image.jpg 1226w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
</div>
<p>Druk Holdings and Investments (DHI), a government-owned entity, actively leads the initiative while effectively using stranded hydropower to mine Bitcoin. Moreover, the country utilizes its hydropower capacity, clearly demonstrating how renewable energy supports Bitcoin mining and diversifies national reserves.</p>
<h3 class="wp-block-heading" id="h-bitcoin-surge-elevates-bhutan-s-holdings">Bitcoin Surge Elevates Bhutan’s Holdings</h3>
<p>Recent Bitcoin price surges have substantially boosted the valuation of holdings. Bitcoin’s current price, a record high, underscores the nation’s <a href="https://thenewscrypto.com/bhutans-bitcoin-mining-yields-780-million-in-holdings/" target="_blank" rel="noopener noreferrer nofollow">decision</a> to adopt cryptocurrency as a long-term asset. Moreover, the country’s accumulation strategy combines mining withholding, benefiting from both operational efficiency and price appreciation.</p>
<p>Bitcoin’s current price <a href="https://thenewscrypto.com/are-bitcoin-whales-accumulating-as-price-progresses-to-94k/" target="_blank" rel="noopener noreferrer nofollow">stands</a> at $93,683.19, reflecting a 1.27% daily increase, with a market cap of $1.85 trillion. The 24-hour trading volume surged to $76.58 billion, marking a 7.73% rise. Bitcoin’s fully diluted valuation (FDV) now reaches $1.97 trillion, with a volume-to-market cap ratio of 4.14%.&nbsp;</p>
<p>Bhutan’s $1.1 billion Bitcoin reserve has drawn comparisons to policies discussed in larger economies. For instance, following political shifts in the U.S., there are increasing debates about creating a national Bitcoin reserve.<br><br><strong>Highlighted Crypto News Today<br></strong><a href="https://thenewscrypto.com/doge-shows-bullish-signs-after-bitcoins-record-surge/" target="_blank" rel="noopener noreferrer nofollow">DOGE Shows Bullish Signs After Bitcoin’s Record Surge</a></p>

Bhutan Holds $1.1 Billion in Bitcoin Equivalent to 34% of GDP

Table of Contents

TheNewsCrypto

Other articles published on Nov 20, 2024

First Digital’s FDUSD Stablecoin is Officially Live on Sui

Cardano (ADA) Price Prediction for November 20

Logan Paul's Secret $120K Meme Coin Profits Unveiled: Report

Bitcoin Hits Record High as BlackRock's IBIT Sets New Trading Volume Milestone

cbBTC: Bitcoin Now on Arbitrum for Faster, Cheaper Transactions

The chance of Bitcoin reaching $100,000 by year's end surges to 72%

Join our free newsletter for daily crypto updates!