Bhutan has seen bigger gains from the recent Bitcoin surge than El Salvador, especially as its Bitcoin holdings reach one-third of its gross domestic product (GDP).
El Salvador, the first country in the world to designate Bitcoin as legal tender, currently holds 5,932 Bitcoins, which are worth about $500 million (approximately 77.4 billion yen).
That's 1.5% of El Salvador's entire GDP. By comparison, Bhutan, which does not recognize Bitcoin as legal tender, has a total of 12,574 Bitcoins.
Its value is about $1.1 billion (about 170.47 billion yen). This is equivalent to one third of Bhutan's entire GDP. Bhutan is a small kingdom with a population of 800,000, so it is only 3
0 billion dollars (about 464.9 billion yen). Bhutan has benefited greatly from the recent surge in Bitcoin, which has attracted one-third of its GDP.
Unlike El Salvador, Bhutan has so many Bitcoins because they don't buy them.
This is because they mine directly. The Bhutanese government mines Bitcoin through a government-affiliated company. Located in the Himalayas, hydroelectric power is easily generated and electricity is abundant.
Bhutan may be a small country, but it is a big country when it comes to Bitcoin. Meanwhile, Bitcoin is currently trading at 1.18% on CoinMarketCap, a global coin price relay site.
Bitcoin recorded a price of $88,322 (approximately 13.68 million yen), down 0.23% from 24 hours ago. The previous day, Bitcoin had risen sharply and approached $90,000. This resulted in the sale of realised profits.
It appears that this is showing signs of improvement.
2024/11/13 16:40 KST
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