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North Korea has emerged as a major holder of bitcoin, surpassing Bhutan and El Salvador, with approximately 13,518 BTC valued at around $1.13 billion. This surge in holdings is attributed to the Lazarus Group's $1.4 billion hack of the Bybit exchange on February 21, 2023, during which a significant amount of stolen ether was converted to bitcoin using the THORChain platform.
Fidelity's report suggests that by 2025, nations, central banks, and sovereign funds may increasingly allocate Bitcoin as a strategic investment, driven by the success of countries like Bhutan and El Salvador. The anticipated approval of spot Bitcoin ETPs in 2024 is expected to enhance institutional acceptance, with the U.S. potentially leading this shift under a supportive administration. However, uncertainties in government policy and competing legislative priorities could pose challenges to this trend.
Binance Coin (BNB) has seen a 129% price increase over the past year but remains below $700, trading at $698 after a recent drop. The cryptocurrency community anticipates a surge following Donald Trump's inauguration, with predictions suggesting BNB could reach $824 in January and $891 in February, marking new peaks.
The Czech National Bank is contemplating the inclusion of Bitcoin in its foreign exchange reserves, pending board approval. Governor Aleš Michl has expressed interest in diversifying the bank's portfolio with a small Bitcoin investment, reflecting a broader pro-crypto stance from the Czech government, which is also proposing tax reforms to benefit long-term Bitcoin holders. Meanwhile, global interest in Bitcoin as a reserve asset is rising, with various countries exploring similar initiatives amid changing economic conditions.
Bhutan is enhancing its economy by integrating Bitcoin and other digital assets into its strategic reserve, particularly through the newly established Gelephu Mindfulness City, which aims to be an economic hub. The kingdom, which began Bitcoin mining in 2019, currently holds over 11,000 Bitcoins and is expanding its mining facilities, leveraging its hydropower resources for environmentally friendly operations. As global interest in Bitcoin grows, Bhutan's unique approach positions it as a notable player in the crypto landscape.
Fidelity Digital Assets recognizes Ethereum's strong fundamentals while acknowledging Solana's rapid growth, particularly in memecoin trading. The firm anticipates that upcoming upgrades for both networks could shift investor focus, with Ethereum's stability likely to prevail in the long run. Additionally, Fidelity expects increased adoption of Bitcoin by governments and institutions in 2025, alongside significant growth in stablecoins and tokenization, which it deems the "killer app" of the year.
Fidelity Digital Assets predicts that 2025 will be a crucial year for Bitcoin (BTC) adoption, driven by increasing interest from nation-states and government treasuries. Following significant developments in 2024, including the approval of US spot BTC ETFs, countries like Brazil, Chile, Canada, and the Czech Republic are considering establishing BTC reserves, inspired by the successes of El Salvador and Bhutan. Analysts warn that nations may face greater risks by not investing in BTC amid economic challenges like inflation and fiscal deficits.
Gelephu Mindfulness City in Bhutan plans to include Bitcoin, Ethereum, and BNB in its strategic reserves, aiming to enhance economic resilience and expand its existing Bitcoin mining operations. The region already holds over $1 billion in Bitcoin, making it one of the largest government holders of the asset, thanks to its hydroelectric-powered mining efforts. The city administration will consult with senior government officials and global leaders in March regarding this initiative.
Bhutan's newly designated Special Administrative Region, Gelephu Mindfulness City, plans to adopt Bitcoin, Ethereum, and Binance's BNB token as part of its strategic reserves, aiming to foster an environment of mindfulness, sustainability, and innovation. This initiative builds on Bhutan's significant Bitcoin holdings, with over 13,000 BTC mined since 2019, positioning the country among the largest governmental Bitcoin holders globally. The region will prioritize assets with high market capitalization and mature blockchain infrastructure, while hosting a global summit in March to discuss the integration of digital assets into strategic reserves.
Gelephu Mindfulness City (GMC) in Bhutan has announced its intention to include Bitcoin, Ethereum, and Binance Coin in its strategic reserves, marking a significant step in digital asset adoption. This initiative aims to enhance economic diversification and solidify GMC's role in blockchain technology and Bitcoin mining.Following the passage of the 'Application of Laws Act 2024', GMC is establishing a robust legal framework for digital asset-related financial services. An international conference in March 2025 will further explore the recognition of digital assets as strategic assets, positioning GMC as a leader in the evolving digital economy.
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