- Bhutan holds 13029 Bitcoin worth $780 million powered by eco-friendly hydropower mining from early 2023.
- Bhutan ranks fifth in global government Bitcoin holdings after the United States China and the United Kingdom.
- Bhutan’s Bitcoin mining strategy contrasts with El Salvador’s approach of using it as a legal tender and reserve.
Bhutan is now the fifth largest sovereign Bitcoin holder. Overall, the country has 13,029 BTC worth approximately $780 million. This amount is bigger than El Salvador’s holdings, known for its crypto adoption.
Unlike other governments, Bhutan acquires Bitcoin through mining operations instead of purchases or asset seizures. The investment arm, Druk Holdings & Investments (DHI), leads these activities.
Bhutan uses its abundant hydropower resources to mine Bitcoin sustainably. Since early 2023, the country has increased its mining efforts, aligning with its eco-friendly goals while building digital reserves.
Strategic Mining and Growth
Reports show Bhutan ranks fifth globally in government Bitcoin holdings. Only the United States, China, Ukraine, and the United Kingdom hold more. The nation uses its hydropower to support energy-efficient mining, which strengthens its reserve without harming the environment.
El Salvador follows a different strategy for Bitcoin accumulation. The Central American country has over 6,000 BTC, valued at approximately $569 million. Its government adopts Bitcoin as a reserve and legal tender to promote economic inclusion.
Different Approaches to Bitcoin
In 2021, El Salvador started buying in Bitcoin and continues doing so. It recently concluded a $1.4 billion loan from the International Monetary Fund which required it to scale back its crypto policies. Despite international criticism, its Bitcoin strategy has integrated Bitcoin into its financial system.
Bhutan focuses on mining while maintaining sustainability. Its reserves grow through environmentally friendly practices, which align with its development priorities. In contrast, El Salvador’s strategy centers on integrating Bitcoin into its economy.
These different approaches highlight how nations adapt cryptocurrency strategies based on their resources and goals. Both countries show how Bitcoin plays an increasingly important role in global economies.
The post Bhutan Becomes Fifth-Largest Bitcoin Holder with 13,029 BTC Through Sustainable Mining appeared first on Crypto News Land.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed