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Bhutan Becomes Fifth-Largest Bitcoin Holder with 13,029 BTC Through Sustainable Mining

The small Himalayan kingdom of Bhutan has made a remarkable move in the cryptocurrency market by becoming the fifth-largest holder of Bitcoin. According to recent reports, Bhutan now holds an impressive 13,029 Bitcoins (BTC) worth approximately $780 million.

This significant milestone marks a turning point for the country’s approach to investing in cryptocurrencies. What sets Bhutan apart from other nations is its commitment to sustainable mining practices. The nation has been leveraging its abundant hydropower resources to mine Bitcoin, aligning with its eco-friendly goals while building digital reserves.

In a stark contrast to El Salvador’s approach of using Bitcoin as legal tender and a reserve asset, Bhutan has opted for a different strategy. The country’s investment arm, Druk Holdings & Investments (DHI), is leading the mining efforts.

It is worth noting that this news comes at a time when the global market has been witnessing significant shifts in the cryptocurrency landscape. El Salvador, known for its progressive stance on crypto adoption, holds over 6,000 BTC, valued at approximately $569 million. Despite international criticism, the country continues to buy and hold Bitcoin as part of its economic development plan.

Meanwhile, Bhutan’s focus on sustainable mining practices sets a new precedent in the industry. The country’s commitment to eco-friendliness is a significant departure from other nations that have adopted more aggressive approaches to cryptocurrency investments.

In conclusion, this development highlights the growing interest in cryptocurrency investments and the diversification of national portfolios. It also underscores the importance of sustainability in an increasingly digital landscape.

This article originally appeared at CryptoNewsLand.com

Source: cryptonewsland.com