Bhutan has engaged in another significant Bitcoin transaction, moving 633 BTC worth $64.57 million to three new wallets - a move highlighting the country's strategy to enhance its crypto assets.
Bitcoin Movement in Bhutan
In South Asia, among the Himalayas, Bhutan has conducted a significant cryptocurrency transaction. The country's authorities transferred 633 Bitcoins worth $64.57 million to three fresh blockchain wallets. The kingdom's current Bitcoin holdings amount to 11,055 BTC, equivalent to $1.3 billion.
Bhutan's Cryptocurrency Reserves
Bhutan is actively developing its cryptocurrency reserves, adding Bitcoin, Ethereum, and Binance Coin to its strategic reserves. Last year, it was announced in the country's special region that strategic cryptocurrency reserves would be created to enhance economic resilience and engage in cryptocurrency mining.
Cryptocurrency Reserve Plans in Other Countries
The newly elected U.S. president has pledged to create a strategic Bitcoin reserve by purchasing cryptocurrency over the next four years. Meanwhile, the U.S. Department of Justice holds 69,370 Bitcoins, seized from a Silk Road hacker, and discussions continue over their potential sale amid the change in power.
Bhutan is taking bold steps to integrate cryptocurrencies into its economy, advancing its reserves and actively participating in the global cryptocurrency market.
