Government of Bhutan Holds $828M in Bitcoin.

Cookdata

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Quote from: l99l on November 12, 2024, 12:19:34 PM

Okay, how much does bitcoin cost, when was it calculated, I wish the number of bitcoins was stated.
Small countries like Bhutan and El Salvador are evaluating Bitcoin adaptation and mining as a last resort as a starting point, and this desperation may have already put them on the right path.

The day this thread was made, Bitcoin made a high of $61k and $58k, if we average the price that's going to be $59.5k and today Bitcoin is traded around $92k. From $59.5 to $92k, that's 34.7% increase from the day this thread was posted. If we compute that % increase to the amount it was worth, $281.5M increase from September to November, they should have $1.1B worth of Bitcoin in their wallet right now.

They didn't have half of what Germany had back then and they sold everything at an average of $54k. Imagine billion worth of Bitcoin they will be having on their wallet right now. However, the reason of selling wasn't discuss to date. It's possible that was a political call because they have been holding that Bitcoin many years, it will be unreasonable for them to sell all of a sudden but that's bygone since they don't hold any Bitcoin anymore.

MusaPk

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Quote from: $crypto$ on November 12, 2024, 02:38:30 PM

As the price of bitcoin continues to rise and now stands at $1.12B - https://intel.arkm.com/explorer/entity/druk-holding-investments
When the price reaches $100K, the value will be even higher.

Only small countries dare to invest in bitcoin, while their large countries are still hesitant and there are still many who oppose bitcoin as a reserve asset.

We must see with literacy that bitcoin is able to increase profits quite significantly if it is in the current phase such as the Government of Bhutan, El Salvador which has a lot of bitcoin that increases its value.

As the price of Bitcoin will go up so will the holdings of Bhutan government in Bitcoin. Its a good test case for governments of the world to study and figure out how they can invest in Bitcoin. I wish government of Pakistan (my country) has invested in Bitcoin so they might not be running after IMF for loan package. It's a positive indication that few governments have shown interest in Bitcoin and in future might be big powers also jump in.

$crypto$

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Quote from: MusaPk on November 12, 2024, 12:12:41 PM

The good news for Bhutan is that as price of Bitcoin touches 89k, the market value of Bitcoin holdings for Bhutan government is now 1 Billion US dollar. This is an indication for other governments to wisely come and invest in some asset other then US dollar. As OP mentioned on Sep 22, 2024 that Bhutan government has 828 million US dollar holdings in Bitcoin and in less then 2 months that investment has surpassed 1 Billion US dollar. Nothing in world can give that much profit in such short duration.

Bhutan's Bitcoin Holdings Surpass $1 Billion Amid Price Surge

As the price of bitcoin continues to rise and now stands at $1.12B - https://intel.arkm.com/explorer/entity/druk-holding-investments
When the price reaches $100K, the value will be even higher.

Only small countries dare to invest in bitcoin, while their large countries are still hesitant and there are still many who oppose bitcoin as a reserve asset.

We must see with literacy that bitcoin is able to increase profits quite significantly if it is in the current phase such as the Government of Bhutan, El Salvador which has a lot of bitcoin that increases its value.

l99l

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Okay, how much does bitcoin cost, when was it calculated, I wish the number of bitcoins was stated.
Small countries like Bhutan and El Salvador are evaluating Bitcoin adaptation and mining as a last resort as a starting point, and this desperation may have already put them on the right path.

MusaPk

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The good news for Bhutan is that as price of Bitcoin touches 89k, the market value of Bitcoin holdings for Bhutan government is now 1 Billion US dollar. This is an indication for other governments to wisely come and invest in some asset other then US dollar. As OP mentioned on Sep 22, 2024 that Bhutan government has 828 million US dollar holdings in Bitcoin and in less then 2 months that investment has surpassed 1 Billion US dollar. Nothing in world can give that much profit in such short duration.

Bhutan's Bitcoin Holdings Surpass $1 Billion Amid Price Surge

Smartprofit

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Quote from: MinoRaiola on September 22, 2024, 12:57:11 AM

Bhutan is a small country with 800,000 inhabitants, but it looks like they have understood that bitcoin is important for them. I think there are many more countries that own bitcoin and dont publicize it. El Salvador will always be the number one country that has decided to do this and so far they are successful with it and I think in 2025 they will be even more successful. Many other countries will see this and discuss to buy bitcoin. Bhutan has made it right now, very well.

This news does not surprise me. The Kingdom of Bhutan is a very progressive (albeit small in area and population) state.

It is the only country in the world where maximizing happiness for all residents of Bhutan is directly stated as a goal (in the Constitution of this country). The use of chemical fertilizers is prohibited in the Kingdom of Bhutan. All harmful industrial production is also prohibited.

Smoking and air pollution with nicotine are prohibited in this state. The Kingdom of Bhutan has excellent asphalt roads, which are pleasant and safe to drive on. All residents are required to learn English.

The Kingdom of Bhutan is ruled by a progressive and enlightened monarch who is interested in innovation and supports scientific and technological progress.

Therefore, the Kingdom of Bhutan created a reserve fund of Bitcoins. I am sure that in the future, all states will do the same. Bitcoin will become the world reserve currency and an integral part of the gold and foreign exchange reserves of all central banks.

FortuneFollower

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Quote from: tread93 on September 27, 2024, 10:38:07 PM

I think the wildest thing about this is that this country is primarily monk folk and that’s something that you wouldn’t think you’d find are really smart IT computer monks lmao

Who would've thought the monks would be wiser than many politicians out there Grin

Cryptmuster

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Quote from: Popkon6 on October 23, 2024, 06:59:47 PM

Bitcoin is held by the country of Bhutan, although Bhutan is a very small country and therefore has a very small population. Despite being small, they have expressed their respect for Bitcoin, in the beginning they bought and held the equivalent of 828 million dollars in Bitcoin, and if they continue to buy and hold Bitcoin in the future, they will surely benefit the most.

As evidenced since 2021, El Salvador has been holding bitcoins through the DC strategy, today they are reaping massive monetary benefits from every bitcoin. If the benefit is to be paid from just four years of holding then it doesn't take much time to get success, just wait to invest. The more you invest and the DCA method, the more likely you are to succeed in investing in Bitcoins.

Bhutan does not buy bitcoin, they mine it, it all started with the fact that they began to accumulate excess electricity, since they have conditions for the placement of hydroelectric power plants, and the population is small, they can afford it. Moreover, this is green energy that does not harm the environment. And in 2024 it became known (thanks to satellite images) that Bhutan built a very solid mining farm, hence it is clear that they are serious about continuing to accumulate bitcoin, but it looks like they will continue to mine bitcoin.

Popkon6

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Quote from: Ricardo11 on September 21, 2024, 11:39:21 PM

The government of Bhutan currently holds $828 million in bitcoins.

A small country located in the eastern Himalayas with a population of less than 800,000. This country's government currently holds over $828 million in BTC.

"Bhutan has built bitcoin mining facilities in multiple locations, the largest of which is at the site of the now-defunct Education City project," Arkham Intelligence said.

Arkham also said the crypto intelligence firm explained that it was able to confirm the activity by reviewing satellite imagery and matching the timeline of onchain mining operations. "We were able to support the timeline of on-chain mining activity with time-lapse satellite images of the facility's construction," unlike most governments, Bhutan's BTC law enforcement does not come from seizing assets, but from bitcoin mining operations, which have dramatically increased since early 2023 increased.

News link:
1) https://news.bitcoin.com/government-of-bhutan-holds-828m-in-bitcoin-arkham-data-shows/
2) https://www.aicoin.com/en/article/419903

Bitcoin is held by the country of Bhutan, although Bhutan is a very small country and therefore has a very small population. Despite being small, they have expressed their respect for Bitcoin, in the beginning they bought and held the equivalent of 828 million dollars in Bitcoin, and if they continue to buy and hold Bitcoin in the future, they will surely benefit the most.

As evidenced since 2021, El Salvador has been holding bitcoins through the DC strategy, today they are reaping massive monetary benefits from every bitcoin. If the benefit is to be paid from just four years of holding then it doesn't take much time to get success, just wait to invest. The more you invest and the DCA method, the more likely you are to succeed in investing in Bitcoins.

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tread93

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Quote from: Ricardo11 on September 21, 2024, 11:39:21 PM

The government of Bhutan currently holds $828 million in bitcoins.

A small country located in the eastern Himalayas with a population of less than 800,000. This country's government currently holds over $828 million in BTC.

"Bhutan has built bitcoin mining facilities in multiple locations, the largest of which is at the site of the now-defunct Education City project," Arkham Intelligence said.

Arkham also said the crypto intelligence firm explained that it was able to confirm the activity by reviewing satellite imagery and matching the timeline of onchain mining operations. "We were able to support the timeline of on-chain mining activity with time-lapse satellite images of the facility's construction," unlike most governments, Bhutan's BTC law enforcement does not come from seizing assets, but from bitcoin mining operations, which have dramatically increased since early 2023 increased.

News link:
1) https://news.bitcoin.com/government-of-bhutan-holds-828m-in-bitcoin-arkham-data-shows/
2) https://www.aicoin.com/en/article/419903

I think the wildest thing about this is that this country is primarily monk folk and that’s something that you wouldn’t think you’d find are really smart IT computer monks lmao

OcTradism

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Quote from: Kemarit on September 26, 2024, 02:36:28 AM

Hydropower, they have been investing on it, they have The Chhukka Hydropower Project, Bhutan's first mega power project, it was commissioned in the 80's and for sure it game them enough time to take advantage of it and now they are over abundance of electricity.

And some of us here come into this forum maybe around 2017 or earlier, and that's where they started to mine Bitcoin as per report. And now they are gaining the fruits of their labor as they are one of the richest now, in terms of having Bitcoin in their custody and when Bitcoin hits $100,000 at least at the top of the bull run, it will make them a lot of profits.

They made a very smart decision because if they sell their abundant electricity, export it to other nations, they will only get a fair paid money at that time. By investing the abundant electricity to Bitcoin mining, they will get an asset that increases its value and price with time.

You will not find any better national investment decision than this. People can agree or disagree with this decision from Bhutan but figures show fact and it proves that Bhutan government did a very great thing for their nation and citizens too. Profit from Bitcoin mining can help their national budget and citizens will get benefit from it too.

ROI table show this fact and explains the financial-wise decision of Bhutan.
https://casebitcoin.com/

Kemarit

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Quote from: FortuneFollower on September 26, 2024, 12:39:15 AM

Quote from: OcTradism on September 26, 2024, 12:33:07 AM

Quote from: BABY SHOES on September 26, 2024, 12:19:53 AM

Data shows bitcoin owned by Bhutan: https://platform.arkhamintelligence.com/explorer/entity/druk-holding-investments

I don't know if El Salvador has more or Bhutan has more for them to have in bitcoin?

You can compare Bhutan holding and El Salvador holding. Let's see.

Bhutan has 13.105K BTC
El Salvardor has 5.885K BTC

The figures show that El Salvador are holding less bitcoins than Bhutan even Bhutan started their Bitcoin investment, Bitcoin mining later than El Salvador. The difference can be explained that Bhutan get bitcoins through mining and that is more sustainable than investment with own money. The nation has abundant sustainable energy for Bitcoin mining.

That's just insane and interesting, to say the least.
I am also interested as someone out there how they get their electricity in abundance. More analysis is needed.

Hydropower, they have been investing on it, they have The Chhukka Hydropower Project, Bhutan's first mega power project, it was commissioned in the 80's and for sure it game them enough time to take advantage of it and now they are over abundance of electricity.

And some of us here come into this forum maybe around 2017 or earlier, and that's where they started to mine Bitcoin as per report. And now they are gaining the fruits of their labor as they are one of the richest now, in terms of having Bitcoin in their custody and when Bitcoin hits $100,000 at least at the top of the bull run, it will make them a lot of profits.

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Quote from: BABY SHOES on September 26, 2024, 12:19:53 AM

Data shows bitcoin owned by Bhutan: https://platform.arkhamintelligence.com/explorer/entity/druk-holding-investments

Despite being the smallest country in South Asia, Bhutan has managed to hold its own on the world stage in cryptocurrency. Bhutan has now become the fifth largest Bitcoin holder in the world, having already accumulated over 13,000 Bitcoins in its investment portfolio. Which has a current market value of around more than eight hundred million dollars which has solidified their position in the cryptocurrency landscape. Not only Bitcoin, this country has more than 600 Ethereum in its investment portfolio.

Quote

I don't know if El Salvador has more or Bhutan has more for them to have in bitcoin?

Moreover, although El Salvador is the first country in the world to accept Bitcoin as legal tender, they still lag behind Bhutan in terms of Bitcoin holdings. If we enter here we will be able to accurately know the total bitcoin holdings of various bitcoin holding countries.
Bitcoin Holdings of Countries & Governments

OcTradism

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Quote from: FortuneFollower on September 26, 2024, 12:39:15 AM

I am also interested as someone out there how they get their electricity in abundance. More analysis is needed.

It's really easy if you can search. Why did you not try with search a little bit before asking?

Bhutan, Tiny Country With $3B GDP, Holds Over $780M in Bitcoin.
Bhutan's secret Bitcoin mining locations.

It's impressive revenue for Bhutan because they only start Bitcoin mining activities since early of 2023. With this good revenue and an impressive lesson from Bhutan, many more countries will consider to do the same at national governmental scale. This trend will be massive for Bitcoin and in the USA, Trump said if he gets enough votes to become a President, he will keep all bitcoins of the USA. government, no more sale, while he will use national money to invest in Bitcoin too.

Donald Trump’s Plan to Hoard Billions in Bitcoin Has Economists Stumped.
Trump's Bold Plan To Use Bitcoin To 'Wipe Out' $35T US Debt

FortuneFollower

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Quote from: OcTradism on September 26, 2024, 12:33:07 AM

Quote from: BABY SHOES on September 26, 2024, 12:19:53 AM

Data shows bitcoin owned by Bhutan: https://platform.arkhamintelligence.com/explorer/entity/druk-holding-investments

I don't know if El Salvador has more or Bhutan has more for them to have in bitcoin?

You can compare Bhutan holding and El Salvador holding. Let's see.

Bhutan has 13.105K BTC
El Salvardor has 5.885K BTC

The figures show that El Salvador are holding less bitcoins than Bhutan even Bhutan started their Bitcoin investment, Bitcoin mining later than El Salvador. The difference can be explained that Bhutan get bitcoins through mining and that is more sustainable than investment with own money. The nation has abundant sustainable energy for Bitcoin mining.

That's just insane and interesting, to say the least.
I am also interested as someone out there how they get their electricity in abundance. More analysis is needed.

OcTradism

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Quote from: BABY SHOES on September 26, 2024, 12:19:53 AM

Data shows bitcoin owned by Bhutan: https://platform.arkhamintelligence.com/explorer/entity/druk-holding-investments

I don't know if El Salvador has more or Bhutan has more for them to have in bitcoin?

You can compare Bhutan holding and El Salvador holding. Let's see.

Bhutan has 13.105K BTC
El Salvardor has 5.885K BTC

The figures show that El Salvador are holding less bitcoins than Bhutan even Bhutan started their Bitcoin investment, Bitcoin mining later than El Salvador. The difference can be explained that Bhutan get bitcoins through mining and that is more sustainable than investment with own money. The nation has abundant sustainable energy for Bitcoin mining.

BABY SHOES

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Data shows bitcoin owned by Bhutan: https://platform.arkhamintelligence.com/explorer/entity/druk-holding-investments

I don't know if El Salvador has more or Bhutan has more for them to have in bitcoin?

It could be that next year if bitcoin is bullish this country will become a wealthy country especially with a small population if it is equalized maybe the population will get a share.

Now some countries have started to have bitcoin for HODLing.

Dave1

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And if you look at the data, every one in Bhutan could have at least a Satoshi in their wallet with the kind of Bitcoin at their arsenal. So they are one of the top 5 countries that hold so much Bitcoin, like El Salvador, US and China.

Again, they flew under the radar for most crypto enthusiast, but now since they have a lot, everyone is very interested on how such a small country has so much Bitcoin as their reserved. We can only attribute it to their government as they find a way to take advantage of their abundance in electricity to mine Bitcoin. It just shows that Bitcoin can really be a good hedge and holding for any government around the world, big or small.

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Quote from: Saint-loup on September 25, 2024, 04:54:56 PM

how they get cheap electricity ? They've no nuclear power plants afaik? They are using the energy of their water falls? Or they use something else to leverage their altitude in the Himalayan mountains? I guess they are able to produce hydroelectricity at a cheap price during spring and other seasons but what are they doing during winter when the water becomes ice and snow?

It says that they are utilizing their hydropower and also government's assistance. On this regard, they are exhausting their renewable sources to cater the need of its people. Also, they have excess energy produced, so they are selling the extra to countries like India. And of course, with such revenue, it can further contribute to the government's financial needs.

Source: Energy in Bhutan

Topic: Government of Bhutan Holds $828M in Bitcoin. (Read 884 times)