Bhutan commits up to 10,000 bitcoin to back new mindfulness-based economic hub
The Himalayan kingdom plans to deploy part of its sovereign bitcoin holdings to fund long-term development through Gelephu Mindfulness City.
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Bitcoin bulls avoided a correction as US markets opened, but analysis warned that Strategy was responsible for much of the latest BTC price strength.
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The Himalayan kingdom plans to deploy part of its sovereign bitcoin holdings to fund long-term development through Gelephu Mindfulness City.
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It's estimated that Bhutan has around 11,286 Bitcoin in total, a stash worth over $986 million, making it the fifth-largest known holder among countries.
BTC's weak tone contrasted with moderate gains in major Asian equity indices, which drew strength mostly from expectations of fiscal stimulus.