Central Banks of Bhutan, Venezuela, and Iran Acquiring Bitcoin

Industry voices 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 those countries are currently involved in Bitcoin acquisition.

In a recent tweet, David Bailey, CEO of Bitcoin Magazine, expressed optimism that larger central banks would soon begin acquiring Bitcoin.

Bhutan's Strategic Bitcoin Expansion

Mike Alfred, a former tech CEO and founder of a value investment fund, corroborated Bailey's claims, referencing direct communications with officials from Bhutan, Burkina Faso, and French Guyana. Alfred stated, "Bhutan confirmed this to me on Tuesday. I have a call with Burkina Faso and French Guyana on Monday. It's happening, homie."

Bailey elaborated on Bhutan's situation, 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 collaboration with Bitdeer Technologies Group.

This initiative aims to boost 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, heavily reliant on hydropower.