Topic: Government of Bhutan Holds $828M in Bitcoin. - page 2. (Read 884 times)

Any country that know that bitcoin can help to boost their economy should go ahead and invest as many as they want, because is obvious that bitcoin nobody knows what the price will increase to, in the next three years, those countries who picked interest on gold investment have never regretted it, till date, because they saw future in gold and that is why they invested in gold, and gold is giving them exactly what they want or needed, that's why if your countries is banking in bitcoin as economy reserved, want you to do is to support because you already know what it will yield.

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?

After El Salvador, it is good news from Bhutan. When OPEC?

A small country like Bhutan to take such groundbreaking steps on Bitcoin is really a matter of pride and Bhutan taught hands-on how to invest on Bitcoin in a populous country like us. Bhutan is one of the SAARC countries in South Asia, but Bhutan is the only one among the SAARC countries to have a record of official Bitcoin reserves.  But I can't say whether other countries have bitcoin reserves but such a move in Bhutan really encourages us to invest more deeply in bitcoin. But my country Bangladesh should take lessons from Bhutan and how to take revolutionary steps on Bitcoin even as a small country should take lessons from Bhutan.

IDK about you but for me this is actually very surprising. I guess that is due to the fact that Bhutan is rarely heard as a country. News like this are important because it can motivate someone else or some country to do the same thing. Moreover, BTC is still/already widely accepted. You even said that almost all countries are hodling it. Post like the OP had is not new either. I mean we shouldn't bashed him for this. I also don't think that he is only doing this to boost his post count because he still write it carefully and precisely. To get merits maybe? But I think he also deserved it. Moving on, China and India are known countries already but the one that can surprise us is the fact that they allow BTC again because AFAIK they have banned it.

Even I was surprised, they didn't write much in the media. Bhutan, I think thinking ahead, sees Bitcoin as a promising investment to help the country's economic development. In fact, I just read that Bhutan is the 4th largest BTC depositor. Uniquely, it was not obtained from confiscation but mining. In fact, it seems that the government is deliberately building a crypto mining factory. It seems that if there is no investigation this news will not come out.  Amazingly, the number of crypto assets owned by Bhutan is 26.9% of the national gross domestic product (GDP) in 2023.

Source: https://cointelegraph.com/news/bhutan-revenue-bitcoin-mining-developing-nations
 

I am sure that for now only small countries have declared themselves to hold a lot of bitcoin, while large countries have not done so for various reasons and the most common one they throw out is the issue of privacy on bitcoin. Bhutan is a fairly peaceful and prosperous country although not as influential as large countries such as the US or China but I am sure that in the next few years what Bhutan and El Salvador are doing now will have a big impact on their countries and large countries will realize that they are lagging behind Bhutan and El Salvador.

It's a small country yes, but it doesn't matter how huge or small it is, right? We're all for those countries that hold Bitcoin as their public asset. IMHO, this is such a peaceful country and I have read the news that the government per se is mining Bitcoin. That's why it's very ideal for them to get into this industry because they know that there's so much potential that they can get into it while it's still quite young. And if they continue to stack for more while continuing their mining operations, that's a good job and decision for them. AFAIK, one country that held a lot of BTC was Bulgaria but I think they have later on sold it and the same goes for Germany that had became a trending thing just a few months ago.

El Salvador’s adoption of Bitcoin as legal tender has caused many countries to change their perspective on Bitcoin. Many countries that were aware of Bitcoin’s existence but did not invest may have changed their plans. Countries, like companies, want to make a profit from their investments. Many people who invest in Bitcoin may not disclose their investments.

Many countries may have invested in Bitcoin and ETH. Some made these investments a long time ago, while others made regular purchases. As time goes by, other countries will also disclose the amount they invested. Perhaps they will continue to invest in Bitcoin without disclosing it at all.

13,076 BTC and 656 ETH. Well, the total amount of the tokens that they're holding might not be the same after 2 years or maybe next year (depending on the situation).

Anyway, many are looking at El Salvador because they're the first country that adopted Bitcoin as a legal tender, but nobody's talking about Bhutan and the amount of coins that they're holding. They might be holding a number of coins, but you can see that around 99% of those are in either Bitcoin or Ethereum which just shows that they trust these top 2 tokens in terms of market cap. With this move of Bhutan, this also shows that any small country out there can do the same as well. Hold Bitcoins if you trust it, and it might help the country at least a little.

Well, if only all of the governments around the world knows how to buy, sell, and keep it secure. Do I expect more of these countries doing the same? Hmmm, I don't know TBH because the type of government Bhutan might've affected this decision of the government buying those Bitcoin, but who knows. We didn't expect a country like Bhutan to buy Bitcoins at this huge, right. I expect more in the future.

Their government is smart, unlike any other country’s government. They know what’s valuable and what can help their country grow financially and independently. But other governments deal with their egos, and hence they don’t want to adapt the Bitcoins. For them, taxes are more important than a nation’s growth. Still, this is good news, and I am sure that the price of Bitcoins will be slightly affected by this good news. El Salvador and Bhutan gained my respect again. Let's see which country joins them in the race now.

If the Bitcoin they get is obtained from bitcoin mining sector operating in their country, I am sure that this can be one of the important factors in driving their economy even better. Because Bhutan is not a big country, it is a small country with a population of only 800 thousand, if their government can manage the this mining sector well, it should help them to prosper their people and open up more opportunities for them to develop. El Salvador is one of the countries that can be a role model for Bhutan, all they need is to be more confident and open to investment, especially crypto mining in their country, that can be capital for them to improve their economy.

Solution? There are no solutions, that comes with the territory of freedom and permissionless transactions.

But how i was being negative? I already mentioned that it's wild that they participate to mining, which i see as a sort of positive thing. I see positivity when there's positivity. I only have problems with huge whales hoarding it, and i see it problematic if governments are becoming those whales. But please explain how more of this positivity helps, when something just mainly affects to the pump-a-nomics of bitcoin?

Let me quote myself from earlier thread so i can elaborate my view on this and governments being involved:

Maybe you can see from that point i am making. It's not that i am against it, i am more of nihilistic about this then idealistic and that means that i accept to work with regulations rather then fighting them, even though they can dismiss the underlying fundamentals / benefits the bitcoin had and the reason it was created. I don't however hope and pray for governments or leaders to be involved, and i don't get why so many are.

I really thought that underlying ideology behind the cryptocurrency holders had, would be idealism of self-custodity and freedom. But i guess they are as nihilistic about this as me, and instead of believing in decentralization they are just using it as a buzz word. Imho if we rely on governments on bitcoin mooning, then the price is based on nothing but promises and compliance. And i can't see those having anything to do with the fundamentals of bitcoin.

Governments in all countries should also save money in BTC. By saving money in BTC, the country will get a huge profit, I am sure that people in countries that save BTC will also get profit. What is certain is that by making a profit when the price of BTC rises, the government can pay off the country's debts, the government can also provide assistance to its poor people.

El Salvador legalized Bitcoin through legal tender, a landmark event in world history and currently small countries like Bhutan have legalized it. With the ever-increasing demand for bitcoins and the ever-increasing price trend, more state institutions will start holding bitcoins in the future, as has happened in Bhutan.

Although Bhutan is a small country in South Asia, it is known as a holder country of Bitcoin.  But my country has not been able to give any approval to Bitcoin so far. This landmark move by the Government of Bhutan will further strengthen the acceptance of Bitcoin in Bhutan. Bhutan holds over 886 million dollars worth of bitcoins and will increase its holdings of more bitcoins in the future.

Yes, they are actually holding more bitcoins than El Salvador which means they were the first country that gained higher interest on bitcoin than El Salvador was. It just shows that small countries should never be underrated most particularly when it comes to acquiring the latest innovation of blockchain technology. I just hope more small countries will be able to prove this later in the future.

I don't think this has anything to do with the excitement or happiness of individuals, it's just something that is circulating the internet these days and when that happens, people tend to discuss it, that is a normal thing, I believe.


I don't see any logic in what you are saying here. A country owning and mining Bitcoin will boost adoption within the country, and once the news spreads around the globe, more people will have their confidence boosted when they know that now countries are also involved, it must be something good. The effect might not be that big since it's a small country, but something positive will come out of this.


They should unless they lack basic education, have never read a geography book, and haven't seen a world map.

Don't know how legit this information is, but it should be something very beneficial for them if the yare doing something like this. I think we would have heard about it beforehand and not after this much time, but I am glad to see that world governments are trying to finally put some money into crypto because they realize that it's a great way to leverage their debt against fiat and this would mean that when their fiat devalues and that happens due to inflation at every year, we are going to see bitcoin help them pay their debt without much issues.

I believe that nearing a billion dollars is a great help and should pay for a lot of things as well. I am still not fully convinced somehow that this is them though, it could be someone else, I am not entirely sure they have something like this because it's a huge news and learning about it after so much time feels like it is not realistic, we should have heard it when it first started and not so much time later than what it is.

Yeah, they did the right thing, and I think their initial investment in terms of devices used was small compared to what they gained through mining. Even if Bitcoin hadn't been successful, I wouldn’t call what they did high risk since they were just using their own resources. The leaders of their country are really smart, and it's great that one of them is a Bitcoin enthusiast.

It’s just sad to think that their Bitcoin holdings are even larger than the economy of our country, which is valued at only $471.5 billion. I wish our government had mined too, but most of our resources are controlled by private investors and the electricy is expensive. 



Thanks for adding this information, so their biggest purchase was last March 14 this year.. they did great again.