With Bitcoin surging close to $90,000, early adopters of the cryptocurrency are seeing major returns on their investments.
Among them, the government of Bhutan has taken a prominent position, ramping up its Bitcoin strategy to secure significant gains. Leveraging the economic potential of BTC, Bhutan has quietly built up a reserve now valued at over $1 billion, according to Arkham Intelligence.
Originally motivated by the economic challenges following COVID-19, Bhutan transitioned surplus energy into Bitcoin mining, effectively turning a crisis into an opportunity.
Druk Holdings, the state-owned entity responsible for managing these assets, holds approximately 12,568 BTC, establishing Bhutan as one of the leading national holders of Bitcoin.
Bhutan’s diversified holdings also include 656 Ethereum, valued at over $2 million, and smaller amounts of other tokens. Though bullish on Bitcoin, the country doesn’t solely hold its assets—data reveals periodic sales from Bhutan’s BTC reserves, showing an active strategy to balance growth with liquidity.
Bitcoin tumbled sharply today, shedding more than 3.5% in a matter of hours and briefly flirting with the critical $100,000 level.
Bitcoin is treading water near $105,000, but pressure is building on both sides of the trade as macro forces tighten.
BlackRock is making another assertive move into digital assets, quietly expanding its crypto portfolio with sizable purchases of both Bitcoin and Ethereum.
In a move that signals changing tides in traditional finance, JPMorgan is preparing to accept Bitcoin ETF holdings as collateral for loans—starting with BlackRock’s iShares Bitcoin Trust, according to insiders familiar with the plan.