Bhutan's Bitcoin Holdings Reach $1.3 Billion

The government of the Kingdom of Bhutan is drawing attention for holding an equivalent of $1.3 billion (approximately 188 billion yen) in the cryptocurrency Bitcoin (BTC). On the 26th, The Wall Street Journal reported that this amount corresponds to about 40% of Bhutan's Gross Domestic Product (GDP), highlighting the success of its current Bitcoin mining strategy. The report has also spread on social media, garnering significant interest. Bhutan has previously shown a high level of interest in new technologies, such as partnering with Ripple for central bank digital currency (CBDC) experiments conducted by its central bank.