Bhutan is once again making headlines in the crypto world as Bitcoin hits a record $123K. Recently, the Royal Government accelerated its Bitcoin sales while holding significant reserves.
History of Strategic Selling
The Royal Government of Bhutan has been selling Bitcoin during periods of market strength. According to blockchain tracking platform Lookonchain, Bhutan sold 512.84 BTC over the past four days, amounting to approximately $59.47 million. Despite this selling, the country still holds a sizable stash of 11,411 BTC valued at around $1.4 billion. This strategy allows the government to profit without causing market turbulence.
Comparison with Other Nations
Bhutan strikes a smart balance in its crypto strategy by mining, holding, and selectively selling Bitcoin. Unlike Germany, which sold nearly 49,858 BTC too early, or El Salvador, which refuses to sell, Bhutan treats Bitcoin as both a long-term reserve and a funding tool. Data from Arkham Intelligence suggests that the state-owned DHI holds about 12,000 BTC and smaller amounts of ETH, BNB, and MATIC.
Bhutan's Balanced Strategy
Bhutan's recent increase in Bitcoin sales appears to be strategically timed with BTC’s price rebound, likely aimed at raising funds for national development while optimizing its crypto reserves. Rather than fully exiting the market, Bhutan treats Bitcoin as both a reserve asset and a strategic funding tool, allowing it to capitalize on Bitcoin's value while maintaining a long-term position. Additionally, Bhutan mines Bitcoin using clean energy, collaborating with Bitdeer and projects like Gelephu Mindfulness City, indicating a reinvestment in its future.
Overall, Bhutan successfully balances a strategy of selling and accumulating Bitcoin, making informed decisions based on market conditions, thus allowing the country to develop harmoniously in the cryptocurrency sphere.
