In one of the most surprising developments of the leading cryptocurrency’s ongoing bull run, the country of Bhutan has seen a remarkable 39% of its total GDP made up entirely of its Bitcoin investment. Indeed, the accumulation of BTC has now reached $1.14 billion for the small country.
Located in the Himalayas, the small nation has seemingly followed the lead of El Salvador. The pro-Bitcoin nation made the crypto legal tender in 2021. Moreover, it has also seen its BTC investment surpass the $1 billion mark, showing the impact that digital assets can have on developing economies.
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Bhutan Bitcoin Holdings Reach $1.14 Billion as It Dominates Nation’s GDP
2024 has been a monumental year for Bitcoin and should go down as its most important ever. The asset has seen its importance in the overall mainstream finance sector skyrocket. Moreover, it has surged in value as nations across the globe begin to embrace its undeniable potential.
With Donald Trump’s 2024 election win, the US has propelled the asset to new heights. As favorable regulation is expected, the leading crypto reached a price of $93,000 last week. All the while, Trump is reportedly seeking to develop a BTC strategic reserve for the nation. However, there were several countries that were ahead of the curve as far as what could become of Bitcoin.
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Among them is Bhutan, a small Asian country that has seen 39% of its entire GDP consist of its Bitcoin investment. According to Arkham Intelligence data tracking the country’s holdings, their stash has officially surpassed a value of $1.14 billion.
They have followed the example of El Salvador, which has also seen the nation’s Bitcoin investment surpass $550 million. Altogether, both countries stand as proof of cryptocurrencies’ unlimited potential. Moreover, they should be an inspiration to developing countries for what could be possible through the asset class.