The Bhutan sells 59 million dollars in Bitcoin
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In the last four days, Bhutan has sold over 512.84 bitcoin, for a total value of 59.47 million dollars, taking advantage of the surge in the price of bitcoin, which recently surpassed the threshold of 123,000 dollars. This operation, monitored by the blockchain tracking platform Lookonchain, confirms the forward-thinking strategy adopted by the Bhutanese government in managing its digital reserves. Druk Holding & Investments: the heart of Bhutan’s strategy for Bitcoin At the center of this operation is Druk Holding & Investments (DHI), the sovereign fund of Bhutan. DHI has long initiated a bitcoin mining program by leveraging one of the country’s most valuable resources: abundant hydroelectric power. Thanks to this renewable and low-cost source, Bhutan has managed to build one of the most solid bitcoin reserves globally, while maintaining a sustainable and environmentally friendly approach. The strategy of the sovereign fund is distinguished by its ability to quickly adapt to market dynamics. Unlike other countries, such as Germany, which last year sold almost 50,000 bitcoin seized during a bull market, Bhutan manages its reserves proactively, selling part of the holdings whenever the price of bitcoin reaches new highs. Despite the recent sale, Bhutan still holds a considerable amount of bitcoin. According to data provided by Lookonchain, the country currently owns 11,411 BTC, worth over 1.4 billion dollars. This data demonstrates the strength of Bhutan’s position in the cryptocurrency landscape and the government’s ability to plan for the long term, without succumbing to the temptation to liquidate all reserves in one go. One of the most innovative aspects of the Bhutanese strategy is the focus on environmental sustainability. The government has chosen to focus on “clean” mining practices, utilizing locally produced hydroelectric power. This choice not only reduces the environmental impact of mining operations but also allows Bhutan to position…
