Arkham: Bhutan has twice as many Bitcoins as El Salvador
Arkham Analytics recently released a report stating that Bhutan’s Bitcoin holdings have exceeded 13,000, equivalent to approximately US$758 million, making it one of the world’s major Bitcoin holders. Its number of Bitcoins is twice that of El Salvador. many.
The Bitcoin mining business carried out by Druk Holdings (DHI), an investment institution of the Kingdom of Bhutan, has made this small South Asian country stand out in the field of cryptocurrency. According to Arkham, these assets include not only Bitcoin, but also approximately $1.5 million in Ethereum (ETH) and a small amount of other cryptocurrencies.
It is worth noting that Bhutan’s GDP is expected to reach US$3 billion by the end of 2024, and its Bitcoin reserves account for approximately a quarter of GDP, showing its importance in the digital asset field. At the same time, the Bhutanese government has used hydropower for mining since 2019 and has cooperated with Bitdeer to develop a carbon-neutral mining business, with plans to significantly increase mining capabilities in the next few years.
In comparison, El Salvador has purchased 5,875 BTC since September 2021, but its acquisition cost is significantly higher than that of Bhutan, and there is also a significant difference in market size between the two countries due to population differences.
This phenomenon has triggered in-depth thinking on the investment strategies and resource utilization methods of various countries, and has also brought new vitality to the global cryptocurrency market. We hope that more countries can learn from Bhutan’s development model and jointly explore the path to sustainable development of the digital economy.
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