The Bhutan government has once again demonstrated an active approach to managing its cryptocurrency assets by investing 100.215 BTC in Binance.
Bhutan's Strategy in Bitcoin Management
Over the past year, Bhutan has sold 2,262 BTC, generating $200.46 million. The country has managed to significantly increase its profit despite selling a smaller volume, with an average sale price of $88,612. Bhutan still retains 11,611 BTC, currently valued at $1.37 billion.
Development of Bitcoin as a National Asset
Bhutan started Bitcoin mining in 2019 with a price of around $5,000. Mining now accounts for over 25% of the country's GDP. The state investment arm, Druk Holdings and Investments, has mined 13,011 BTC to date. Bhutan's success also stems from the establishment of a 600-megawatt mining facility in Gedu, created in partnership with Bitdeer.
Comparison of Bhutan and Germany in Crypto Transactions
Unlike the German government, which sold off its 49,858 BTC before the recent price surge, Bhutan has avoided over $2.6 billion in unrealized losses. This underscores the effectiveness of Bhutan's trading strategy during market upswings.
The proactive measures taken by the Bhutan government enhance its standing as a leading player in the cryptocurrency sector, illustrating the importance of a strategic approach to asset management.
