The Bhutanese government has transferred $63M in Bitcoin to three new wallets, amidst speculation of changes in asset management strategy. Bhutan has actively mined Bitcoin with hydropower, significantly contributing to its GDP and funding developmental projects.

In a notable development, the government of Bhutan has transferred 721.46 Bitcoin, valued at approximately $63.24 million, to three newly established wallets within the last 24 hours. The primary wallet continues to retain a substantial amount of cryptocurrency, estimated at $890 million, with Bitcoin comprising the majority. This transfer has sparked speculation regarding potential adjustments in Bhutan’s strategic approach to asset management, particularly regarding its custody of cryptocurrencies.

The recent transfer of $63 million worth of Bitcoin by the Bhutanese government indicates possible changes in its asset management strategy, reinforcing its position as a significant holder of Bitcoin. By leveraging hydropower for Bitcoin mining, Bhutan has integrated this digital asset into its economy, creating job opportunities and funding critical infrastructure projects. As it continues to accumulate Bitcoin, Bhutan remains one of the leading nations in governmental cryptocurrency holdings.

Original Source: cryptonews.com.au

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