- Bhutan's Crypto Portfolio
- Carbon-Free Cryptocurrency Mining in Bhutan
- Government Crypto Portfolios Worldwide
Arkham Intelligence now tracks the Bitcoin and cryptocurrency portfolio of the Kingdom of Bhutan. Bhutan, a small mountainous country in South Asia, utilizes Bitcoin as a financial tool.
Bhutan's Crypto Portfolio
The recently identified wallet holds 13,092 BTC, 656 Ethereum (ETH), and small amounts of tokens like SAND and MATIC. With a GDP of $2.96 billion and current crypto holdings exceeding $750 million, this is a significant move for the country. Interestingly, Bhutan has accrued more BTC than the more vocal El Salvador, holding 5,876 BTC.
Carbon-Free Cryptocurrency Mining in Bhutan
Bhutan receives regular block rewards ranging from 1 to 5 BTC. The mining activity has earned about $1,000 for every citizen of the country. Part of the mined BTC is sold through Kraken, with the majority kept as a large-scale reserve. The mining operation utilizes the country's hydroelectric resources in partnership with Bitdeer Technologies. The project uses surplus electricity without compromising national needs. Mining operations are partnered with the leading Foundry USA pool for the highest likelihood of discovering blocks.
Government Crypto Portfolios Worldwide
The UK government holds 61,245 BTC valued at $3.54 billion, primarily from confiscated funds. Germany has divested all its 50K BTC on the market. The largest government wallet belongs to the US Government with 203,239 BTC, followed by the Chinese Government with around 190K BTC. Most government wallets hold their assets without active selling, or sell them through auctions.
Bhutan's cryptocurrency portfolio highlights the significance of cryptocurrencies as financial tools even for small countries. The focus on carbon-free mining and retaining Bitcoin as a strategic reserve indicates the country's long-term plans in this field.
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