🌍 Bhutan Embraces Green Crypto Mining
Bhutan is leveraging its abundant hydropower resources to mine environmentally friendly cryptocurrencies. The nation aims to stimulate economic growth, provide employment opportunities, and reduce youth emigration by integrating digital assets into its economy. Bhutan's sovereign wealth fund has been investing in cryptocurrencies since 2019, using profits to pay government salaries. The country plans to expand its hydropower capacity significantly to attract multinational companies seeking sustainable digital assets.
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🇺🇸 U.S. Establishes Strategic Bitcoin Reserve
President Donald Trump has signed an executive order to create a Strategic Bitcoin Reserve, utilizing approximately 200,000 BTC seized by the U.S. Treasury. This initiative is part of a broader strategy to position the United States as a leader in digital financial technology. The reserve will also include other cryptocurrencies like Ethereum, Solana, Cardano, and XRP. A Presidential Working Group is expected to provide further recommendations by July 2025.
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📉 Bitcoin Rebounds Amid Market Volatility
Bitcoin has recovered to trade around $84,000 after dipping below $77,000 last week. The rebound comes despite falling crypto trading volumes and investor concerns following President Trump's reelection and potential tariff policies. Analysts note that the decline in Bitcoin and related stocks has been less severe than during similar downturns in 2022, indicating growing maturity and resilience in the crypto asset class.
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🇨🇳 China Debates Management of Seized Cryptocurrencies
China is currently deliberating on how to handle a growing cache of cryptocurrencies seized from criminal activities, amidst a national ban on crypto trading. Discussions are underway to establish clearer regulations and centralized management to ensure transparency and curb potential corruption. Suggestions include allowing judicial recognition of cryptocurrencies as assets and introducing standardized procedures for their disposal.
