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

The popularity of cryptocurrencies has increased 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 holds more than 13,000 Bitcoins. The value of these bitcoins is more than $750 million.

According to data from CoinGecko, there are also more than 650 Ethereum worth about $1.5 million in crypto wallets linked to Bhutan. bitcoin The largest holder is America. 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 in third place in this list. Bhutan ranks fourth among the countries having reserves of Bitcoin. However, El Salvador, the first country to recognize this most expensive cryptocurrency, has a very low number of Bitcoins. El Salvador has approximately 5,800 Bitcoins.

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

In recent years, the number of people trading in cryptocurrencies has increased in India also. 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 said in a report that between June last year and July this year, the use of centralized exchanges and decentralized finance assets has increased in the country. The central government has taken a tough stance against the crypto segment. Late last year, show cause notices were issued by the Financial Intelligence Unit (FIU) to nine offshore crypto exchanges for not following the rules.