The government of Bhutan is currently holding over $828 million in bitcoin, according to onchain data by Arkham Intelligence. “Unlike most governments, Bhutan’s BTC does not come from law enforcement asset seizures, but from bitcoin mining operations, which have ramped up dramatically since early 2023,” the crypto intelligence firm explained. Bhutan Revealed as a Major…
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Image Source: Pixabay Satellite images have uncovered Bhutan’s undisclosed state-owned Bitcoin (BTC) mining operations. The landlocked Himalayan nation, known for its seclusion and breathtaking landscapes, has transformed itself into a crypto haven under the rule of King Jigme Khesar Namgyel Wangchuck, according to a recent analysis by Forbes. The report noted that Bhutan’s government has allocated land, funding,…
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A recent report reveals that Druk Holding & Investments (DHI), the business division of Bhutan’s Royal Government, is exploring crypto initiatives to enhance its portfolio expansion. DHI recently teamed up with Singapore-based crypto company Bitdeer to “jointly develop green digital asset mining operations in the Kingdom of Bhutan.”
Bhutan’s DHI Executive Says the Kingdom Is…
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The Central Bank of Bhutan, the Royal Monetary Authority (RMA), has partnered with Ripple to start testing a model of its central bank digital currency (CBDC) using Ripple’s technology. The test will be using Ripple’s own CBDC private ledger, to support similar use cases. The pilot test will include retail, cross-border and wholesale payments for…
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The company claimed its CBDC solution would allow Bhutan’s central bank to deploy a digital ngultrum “without compromising financial stability or monetary policy objectives.” The Royal Monetary Authority of Bhutan is partnering with Ripple to pilot a central bank digital currency in the mountainous kingdom. In a Wednesday announcement, Ripple Labs said Bhutan’s central bank…
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