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Central Banks of Bhutan, Venezuela and Iran Acquire Bitcoin, Industry Rumors Say
- Industry rumors claim that the central banks of Bhutan, Venezuela and Iran are acquiring Bitcoin.
- Larger and more influential central banks are expected to follow soon.
Industry rumors claim that the central banks of Bhutan, Venezuela and Iran are acquiring Bitcoin. The revelations were made during a conversation with Fred Krueger, where it was noted that these countries are currently involved Bitcoin acquisition.
In a recent tweet, David Bailey, CEO of Bitcoin Magazine, expressed optimism that larger central banks will soon begin acquiring Bitcoin.
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Iran, Bhutan, Venezuela, none particularly impressive. The big government buyers are sovereign funds. I think you’ll soon see the big central banks start taking positions
— David Bailey🇵🇷 The threshold is 0.65 million dollars/btc (@DavidFBailey) June 15, 2024
Strategic Bitcoin Expansion in Bhutan
Mike Alfred, a former tech CEO and founder of a value investment fund, confirmed Bailey’s claims, referring to direct communications with officials in Bhutan, Burkina Faso and French Guiana. Alfred said:
Bhutan confirmed this to me on Tuesday. I have a phone call with Burkina Faso and French Guiana on Monday. It’s happening, man.
Bailey elaborated The situation in Bhutan, describing it as “pretty wild”. He shared an article from the Observer Research Foundation, highlighting Bhutan’s sovereign investment arm, Druk Holding & Investments (DHI), which is significantly expanding its Bitcoin mining operations in partnership with Bitdeer Technologies Group.
This initiative aims to increase Bhutan’s mining capacity to 600 megawatts by mid-2025, up from the current 100 megawatts. This expansion, part of a $500 million fund, aims to diversify Bhutan’s economy, which is heavily dependent on hydropower.
Bitcoin adoption scenario in the United States
Bailey speculated that former President Donald Trump might secure it a substantial reserve of BTC for the US Treasury using a time-lock mechanism, hedging against financial instabilities, and elevating Bitcoin to reserve status. He suggested that Trump freeze the 210,000 Bitcoins held by the United States for 100 years, making the decision irreversible.
Bailey also envisioned Trump securing Bitcoin from the Silk Road stash, locking it up for future generations and pardoning its creator, Ross Ulbricht. She concluded that Trump is aware of this possibility, which could significantly alter the global financial landscape.
At the time of writing this document, in line with the provisions of the CNF in this regard Bitcoin and its price stability despite market fluctuationsBitcoin (BTC) is traded at $65,439.32with a decrease in 1.30% in the past day and 4.06% during the past week.