Metaplanet surpasses Bhutan with $1.7B in Bitcoin, outpacing the kingdom’s $1.3B stash despite its strong global crypto presence.
Bhutan’s $1.3 billion Bitcoin holdings have been surpassed by Metaplanet thanks to its aggressive Bitcoin purchasing strategy.
With its most recent acquisition of 2,205 BTC, Metaplanet owns $1.7 billion in Bitcoin, $400 million more than Bhutan possesses.
Bhutan Drops, Metaplanet Takes Lead In Bitcoin Holdings Behind
According to recent sources, Bhutan’s total Bitcoin collection, which is currently close to 13,000, has been surpassed by Metaplanet’s 15,555 BTC holdings.
Recently, Arkham Intelligence revealed the current Bitcoin holdings of Bhutan and Metaplanet in an X article.
Simon Gerovich, CEO of Metaplanet, responded to the disclosure by Arkham Intelligence by saying, “At the moment, Metaplanet has more Bitcoin than the country of Bhutan!”
Gerovich reaffirmed the platform’s dedication to its Bitcoin approach in a different X post, saying, “Metaplanet is Bitcoin first, Bitcoin only.”
Right now, our only goal is to amass as much Bitcoin as we can.
CoinGape revealed yesterday that the firm had added 2,205 Bitcoin, valued at $238.7 million, to its entire holdings, which now number 15,555 Bitcoin, valued at 225.8 billion yen ($1.7 billion).
The Japanese firm is anticipated to continue its aggressive Bitcoin buying spree, with plans to acquire 100,000 BTC by 2026 and 210,000 BTC by 2027.
It’s interesting to note that the corporation intends to use its Bitcoin holdings to investigate additional business prospects, such as a possible acquisition of a digital bank.
According to yesterday’s CoinGape data, the firm outperformed big Japanese companies like Sony and Toyota in June with a trade volume of $12.8 billion.
Crypto Leap In Bhutan
However, with $1.3 billion in BTC holdings, Bhutan has become one of the top three sovereign Bitcoin holders, behind only China and the United States.
The Himalayan Kingdom recently said it would no longer sell its Bitcoin reserves to pay for government expenditures, instead choosing to keep them for the long run.
According to an official,
We are now committed to holding our bitcoin reserves as a strategic asset for the kingdom’s future
Importantly, Bhutan started mining Bitcoin in 2019–2020 using its abundant hydroelectric resources.
The program, which was spearheaded by the royal family and state-owned Druk Holding & Investments, collaborated with Bitdeer and Green Digital.
Bhutan minimized its environmental impact and maintained low operating costs by directing excess renewable energy into mining.
Bhutan developed the world’s first national crypto tourist payment system in collaboration with Binance Pay and DK Bank, another noteworthy step demonstrating the nation’s excitement for cryptocurrencies.
Nowadays, visitors visiting the Himalayan monarchy may easily pay for practically every part of their journey with cryptocurrency.
In conclusion, Bhutan solidifies its position as a leader in cryptocurrency through creative initiatives, whereas Metaplanet surpasses Bhutan in Bitcoin ownership.
Both competitors aim high in the ongoing struggle for supremacy in cryptocurrency.
