Bhutan holds $1 billion in Bitcoin

The recent surge in Bitcoin prices has benefited the Asian nation of Bhutan, with its Bitcoin holdings officially surpassing the $1 billion mark.

Bhutan – a small country located in the Himalayas has officially become one of the largest BTC holders on the planet. Bhutan is currently the only country to accept Bitcoin, along with El Salvador , and both benefited when BTC hit an all-time high of over $93,000 earlier this week.

Bhutan is now one of the world's largest Bitcoin holders
2024 is a crucial year for Bitcoin's growth. In addition to Bitcoin having its first ETF in the US, it has also seen an increase in institutional investment, leading to an ever-increasing capitalization. Furthermore, Bitcoin has become an important political point of discussion in the US, becoming an important aspect of Donald Trump's re-election campaign.

When Trump was elected president, he promised to help the cryptocurrency industry in the US develop, which helped BTC price increase rapidly. BTC reaching the threshold of 93,000 USD has benefited many organizations and countries holding BTC, including Bhutan.

According to Arkham, Bhutan's BTC holdings have surpassed the $1 billion mark.

Arkham Intelligence says Bhutan is one of the countries with the most Bitcoin, with their BTC reserves surpassing the $1 billion mark.

Bhutan has been steadily buying Bitcoin over the years and cryptocurrency investment is strategic for the country.

Analysts are expecting Bitcoin’s rally to last until the end of the year, with some making bold predictions that Bitcoin bulls will conquer the $200,000 mark in the short term.