Several countries have either established or are considering the creation of strategic Bitcoin reserves:
Amongst the established Bitcoin Reserves:
- El Salvador: In September 2021, El Salvador became the first country to adopt Bitcoin as a legal tender. Since then, the Government has accumulated approximately 5,940 bitcoins, valued at around $582 million as of November 2024. They perform both open market purchases (they are buying one bitcoin per day since) and mining operations.
- Bhutan: The Kingdom of Bhutan has been mining Bitcoin using its hydroelectric resources since 2019. More info can be read here : Bhutan Built A Bitcoin Mine On The Site Of Its Failed' Education City.
As of November 2024, Bhutan holds about 12,211 bitcoins worth over $1 billion.
Contrary to other nations, Bhutan has been quite active in the market, regularly selling the Bitcoin they mined
Some other nations have proposed to instate a domestic SBR:
- Brazil: In November 2024, Brazilian Congressman Eros Biondini, a Brazilian Congressman, proposed a bill to create a Sovereign Strategic Reserve of Bitcoins (RESBit). The proposal involved buying Bitcoin up to 5% of Brazil's international reserves. The initiative seeks to reduce the fluctuation of Brazilian real estate in order to protect the economy and develop resilience.
- Poland: Presidential candidate Sławomir Mentzen has advocated for the establishment of a strategic Bitcoin reserve, along with implementing crypto-friendly regulations to attract investment and increase financial flexibility.
https://talkimg.com/images/2024/12/09/p5aUZ.png - Russia: Anton Tkachev has proposed accumulating cryptocurrencies in the state treasury, viewing digital assets as potential alternatives to the US dollar in international transactions and tackling the sanctions. Russia has been a heavy gold buyer during the last few years.
Russian Lawmaker Proposes Creating Strategic Bitcoin Reserve: Report
I think more countries are starting to see Bitcoin as a legitimate asset. El Salvador took the first big step by adopting Bitcoin as legal tender in 2021, they holding over 5,900 BTC. Bhutan has also jumped on the bandwagon, mining Bitcoin with its clean energy, accumulating more than 12,000 BTC so far.
Countries like Brazil, Poland, and Russia are exploring how they could use Bitcoin to strengthen their financial systems. Brazil, for example, is even thinking about adding Bitcoin to its reserves to help stabilize its economy. Russia views Bitcoin as a way to fight sanctions and reduce dependence on the dollar.
I think it’s clear—Bitcoin is no longer just a speculative investment. It’s becoming a key piece of the financial puzzle for nations. Who knows? More countries might follow suit soon.
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