Bhutan also holds hundreds of ethers (ETH), which have given it profits of two million dollars.
Bitcoin mining is the largest source of BTC income for the Kingdom of Bhutan.
The Kingdom of Bhutan, recognized as one of the countries most committed to Bitcoin mining, achieved profits of more than $1 billion with its participation in the bitcoin (BTC) market.
Bhutan currently holds 12,570 BTC, which, at Wednesday’s price, is valued at approximately $1.1 billion.
Bitcoin mining is the main source of BTC income for this Asian country. This approach has allowed the Kingdom accumulate a significant amount of digital currency.
However, not only bitcoin is part of your digital wallet. Bhutan also holds 656 units of ether (ETH) which, together, are valued at just over 2 million dollarsthus adding to their profits in the cryptocurrency market.
This can be seen in the following image, taken from the Arkham Intelligence explorer.
Recently, Bhutan, which is a small kingdom located in the Himalayan mountain range, carried out transactions with its digital assets. Specifically, two weeks ago the country transferred bitcoin valued at USD 66 million to wallets on the Binance exchange, presumably to prepare for a sale. That was when the price of BTC reached $71,000.
Despite this selling activity, Bhutan’s overall trend is BTC accumulation. Most transactions recorded in Bhutan address show BTC inflowscoming from various mining pools to which the country’s miners are subscribed.
The news of the profits of 1.1 billion dollars for Bhutan arises in a context where the price of bitcoin has experienced a notable increase, exceeding USD 90,000 in this same week. At the time of writing this news, BTC is trading above $92,300thus breaking historical records and benefiting all holders of the currency, including nations like Bhutan.
El Salvador has also been another country that has seen considerable gains in its bitcoin adoption. With more than 5,930 BTC in its reserves, the Central American country has obtained a profit of 545 million dollarsas CriptoNoticias has been reporting. This investment strategy in BTC reveals the benefits of using this asset not only as an instrument of monetary policy, but also as a store of value.
This article was created using artificial intelligence and edited by a human Editor.
