Bhutan Bitcoin Holdings Surpass $1B Amid BTC Bull Run
With the leading cryptocurrency undergoing a price increase for the ages, the Asian country of Bhutan has benefitted, with its Bitcoin holdings officially surpassing the $1 billion mark. Indeed, the rather small nation in the Himalayas has officially become one of the largest BTC holders on the planet.
The development continues to pay off Bitcoin’s earlier believers. They join El Salvador as two of the countries that embrace the asset before many others do. Moreover, the two have only benefited as the token reached an all-time high price of $93,000 earlier this week.
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Bhutan is Now One of the World’s Largest Bitcoin Holders On the Heels of 2024 Run
2024 has been a major year for Bitcoin’s growth. The asset became the first crypto-based ETF in the United States, as it has seen institutional investment interest surge. Moreover, it became a key political point of discussion. Ultimately, it became a key aspect of Donald Trump’s campaign for reelection.
Now that he is headed back to the White House, the asset has surged in value. Therefore, its earlier adopters and most ardent defenders have greatly benefited. Chief among them is the small Asian country of Bhutan, which has seen its Bitcoin holdings surpass $1 billion in value.
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Indeed, Arkham Intelligence reported that the country had surpassed the value, having one of the largest stashes on the planet. The nation had quietly increased its BTC reserves in a strategic move. That has paid off in a massive way considering its recent run that has seen consecutive all-time heights reached throughout the last two weeks.
That is only expected to continue throughout this year. Analysts have projected that the asset could reach a high of nearly $200,000 as it continues to benefit. There is even more hope for Bitcoin’s performance after Trump officially takes office. Many expect him to integrate the asset class into his economic policies.