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While debate around the U.S. government’s Bitcoin holdings continues and El Salvador’s pioneering embrace hogs headlines, a small Himalayan nation nestled between India and China was quietly adding the top cryptocurrency to its reserves. According to a report, the landlocked South Asian held about 13,011 Bitcoin in its coffers, worth $821 million as of this writing. This made it the fourth-largest government holder of the apex digital currency behind the U.S., China, and UK, and surprisingly, above El Salvador. With an estimated GDP of $3.11 billion as per Statista, Bitcoin holdings represented nearly one-third of Bhutan’s economy. However, unlike other nations, Bhutan’s holdings didn’t come from law enforcement seizures, but from indigenously developed mining capability, backed by its abundant hydropower resources. Max Keiser, senior Bitcoin adviser to El Salvador President Nayib Bukele, expressed astonishment at Bhutan surpassing the Central American nation in Bitcoin holdings, s...

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