Bhutan has sent another 100 Bitcoins to Binance: Did the German government make a mistake?

The Bhutanese government has just deposited another 100.215 Bitcoins (worth $11.83 million) into the cryptocurrency exchange Binance. Unlike the German government, which sold all of its 49,858 Bitcoins at an average price of $57,600, Bhutan's timing for the sale has been very astute.

In the past year, Bhutan has sold a total of 2,262 Bitcoins in six rounds of issuance at an average price of $88,612. According to Lookonchain, the country has successfully created higher value with fewer Bitcoins while still holding a reserve of 11,611 Bitcoins, currently worth about $1.37 billion.

20 minutes ago, the government of the Kingdom of Bhutan deposited 100,215 $BTC (worth $11.83 million) into Binance. In the past year, Bhutan has sold 2,262 $BTC (worth $200.46 million) in six batches at an average price of $88,612 and still holds 11,611 $BTC (worth $1.37 billion). The German government has sold all of its holdings.

Bhutan's wise strategy has been successful.

Bhutan started Bitcoin mining in 2019 when the price of Bitcoin was around $5,000. Currently, mining accounts for over 25% of the country's GDP. The national investment firm Druk Holdings and Investments has mined a total of 13,011 Bitcoins to date. Additionally, the company also oversees other state-owned assets such as hydropower plants and airlines, making this strategy even more effective.

Furthermore, Bhutan has partnered with Bit Deer to establish a 600 megawatt mining facility in Gedu, making the country a leader in sustainable Bitcoin mining globally. During market upswings, Bhutan will sell its held Bitcoins. Therefore, the country has successfully avoided over $2.6 billion in unrealized losses, unlike Germany, which sold Bitcoins before the recent price surge.

Bitcoin has become a national asset.

Moreover, cryptocurrencies such as Bitcoin, Ethereum, and BNB have been included in the reserves of Gelephu Mindfulness City in the country. The city has also created a friendly environment for cryptocurrency businesses through its friendly regulatory framework. Matrixport has leveraged this advantage and expanded its business under this flexible regulatory framework.

Meanwhile, German banks, such as Deutsche Bank and savings banks, are preparing for cryptocurrencies. Their plans are set to be implemented in 2026, which means they missed some early opportunities.