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Bhutan moves $11.8M in BTC from its national stash: Arkham
🤖AI Summary
Bhutan has moved $11.8 million worth of Bitcoin from its national reserves according to Arkham Intelligence data. The small Himalayan kingdom has accumulated approximately 13,000 Bitcoin since beginning state-backed mining operations in 2019, powered primarily by its abundant hydroelectric energy resources.
Key Takeaways
- →Bhutan transferred $11.8 million in Bitcoin from its national Bitcoin reserves according to blockchain analytics firm Arkham.
- →The country has accumulated around 13,000 Bitcoin since launching state-backed mining operations in 2019.
- →Bhutan's Bitcoin mining operations are primarily powered by clean hydroelectric energy.
- →This represents one of the few documented cases of a nation-state moving significant amounts of Bitcoin from official reserves.
- →The move highlights how smaller countries are actively participating in Bitcoin accumulation and management strategies.
Read Original →via CoinTelegraph
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