The Royal Government of Bhutan has been a major supporter of Bitcoin, purchasing nearly 14k Bitcoins since early 2021. However, they have recently slowed down their adoption rate, offloading more than 1k Bitcoins in the past two months. Today, they transferred 406 Bitcoins to QCP Capital. Despite this, they still hold around 12k Bitcoins and are the seventh largest BTC holder among nation-states. The government uses the Gross National Happiness (GNH) as a measurement of well-being and has benefited from Bitcoin's identification as digital gold. Additionally, the country is backing Druk Holding & Investments (DHI) to facilitate digital asset adoption and has a significant supply of green energy through hydro-generation.



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