Odaily Planet Daily News The Bhutanese government transferred $63 million worth of Bitcoin to three wallets on March 24, one of which held about 600 Bitcoins, worth about $53 million. Since 2019, Bhutan has used abundant hydropower to mine Bitcoin, and a wallet of investment institution Duke Holdings held $889.9 million in Bitcoin after the transfer.
As of 2023, Bhutan's cryptocurrency reserves accounted for 30.7% of its GDP. In addition to Bitcoin, Duke Holdings' wallet also holds a small amount of Ethereum and other cryptocurrencies.
In October 2024, Bhutan transferred $66 million in Bitcoin to Binance, and has continued to transfer Bitcoin and Ethereum to other addresses in the near future.
Bhutan not only adopts cryptocurrency at the national level, but the Kleb Special Administrative Region plans to include a variety of digital assets in its strategic reserves. (Cointelegraph)