• Bhutan is a small nation nestled between India, Nepal, and China.
• Court documents recently revealed that Bhutan’s sovereign investment arm, Druk Holding & Investments, has been amassing cryptocurrency since 2022.
• The losses of the nation have not been disclosed yet but it is estimated that this investment division is worth nearly $3 billion.
The Small Nation of Bhutan Has Been Hoarding Crypto
Bhutan is a small country located in Asia between India, Nepal, and China. Despite its lack of modern technology compared to its neighbors, court documents have recently revealed that the country’s sovereign investment arm has been investing in crypto since 2022. It is estimated that this division is worth nearly $3 billion, though the actual losses are still unknown due to confidentiality.
Druk Holding & Investments
Druk Holding & Investments is the name of Bhutan’s sovereign investment arm which has allegedly been accumulating crypto since 2022. This comes as a surprise given how badly the crypto industry crashed during that year; however, it appears the company was able to gather millions of dollars worth of digital currency units over just one year regardless. The exact amount lost by Druk has not yet been disclosed due to confidentiality clauses signed with Block Fi in regard to their court battle which has since been settled.
International Forum of Sovereign Wealth Funds
Duncan Bonfield – chief executive of the International Forum of Sovereign Wealth Funds – commented on Druk’s alleged activities by stating they had seen no real interest in cryptocurrency as an asset class amongst their members nor any allocation plans being made for it either. This suggests that Druk’s investments may have come as a surprise given most investors‘ attitude towards crypto at the moment and how risky it can be.
Earn Your First Bitcoin
For those who wish to invest in crypto themselves rather than through a third party such as Druk Holding & Investments there are plenty of opportunities available online for beginners too! Signing up for various services allows users access to bonuses such as up to $3,000 referral bonus plus an initial $12 bonus just for signing up!
Conclusion
Bhutan may be a small and obscure nation but recent evidence suggests they have more money stashed away than we initially thought thanks to their investments in crypto via their sovereign investment arm Druk Holding & Investments over the course of one bearish year on record (2022). While exact details remain confidential due to legal proceedings with Block Fi now settled, we know that other investors haven’t quite taken a liking towards cryptocurrencies yet so this news certainly comes as a surprise! For those interested in investing themselves there are options out there offering bonuses for simply signing up so why not give it a try?