Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000

Sign up

Bhutan is a small country lodged between India, Nepal, and China on the continent of Asia. Its biggest claims to fame are its architecture, its vast open landscapes… and the big crypto stash that the nation has allegedly been hiding from the world all this time.

Bhutan Has Been Hiding a Lot of Crypto

Bhutan is a miniscule and obscure nation. It also doesn’t appear to have all the technological advancements of its neighbors. The region only began supporting cell phone usage about 20 years ago, and in many areas, traffic lights are still absent or in the process of being put up. One wouldn’t assume that a country like Bhutan would be all that into crypto or the technology that supports it, but new court documents suggest otherwise.

These papers revealed that the sovereign investment arm of Bhutan was a big customer of both Block Fi and Celsius, two crypto lending platforms that went bust in 2022 (arguably the most bearish year on record for the crypto industry). The losses of the nation were never disclosed up until now. It is estimated that this investment division is worth just shy of $3 billion, meaning the country has more money stashed away than it’s been letting on all this time.

The investment firm is known as Druk Holding & Investments. It’s believed the institution has been accumulating crypto since 2022, which is interesting because while the country was…

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.