Bhutan Fourth Largest Country in Terms of Bitcoin Holding, America on First Position -lattestnews24

The popularity of cryptocurrencies has grown rapidly in the last few years. Governments of some countries have also invested in Bitcoin, the most valuable cryptocurrency in this market. India’s neighboring country Bhutan is also included in these. The government of Bhutan has more than 13,000 bitcoins. The value of these bitcoins is more than 750 million dollars.

According to data from CoinGecko, crypto wallets linked to Bhutan also hold more than 650 Ethereums worth about $1.5 million. The largest holder of Bitcoin is the US. The US has more than 2,13,240 Bitcoins. It is followed by China with about 1,90,000 Bitcoins. Britain (about 61,000 Bitcoins) is third on this list. Bhutan is fourth among countries holding Bitcoin reserves. However, El Salvador, the first country to recognize this most expensive cryptocurrency, has a very low number of Bitcoins. El Salvador has about 5,800 Bitcoins.

The bitcoins held by Bhutan are not linked to the cryptocurrencies seized by authorities. Druk Holding, the investment unit of the Bhutan government, has acquired the cryptocurrency through bitcoin mining. Last year, Bhutan increased bitcoin mining efforts at four sites using electricity from hydroelectric plants. Bitdeer Technologies, a cryptocurrency mining services firm in Bhutan, has also set up a mining data center.

In recent years, the number of people trading in cryptocurrencies has also increased in India. Despite high taxes, interest in cryptocurrencies is increasing in the country. This is the second consecutive year in which India has a high ranking in the world for investment in cryptocurrencies. However, in the last few months, regulators have also taken strict action against some firms in this segment. Blockchain analytics firm Chainalysis has reported in a report that the use of centralized exchanges and decentralized finance assets has increased in the country between June last year and July this year. The central government has taken a tough stand against the crypto segment. At the end of last year, nine offshore crypto exchanges were issued show cause notices by the Financial Intelligence Unit (FIU) for not complying with the rules.