Countries Explore National Bitcoin Reserves as Prices Approach $100K; Bhutan Amasses $1 Trillion, 1,200 Companies Hold ETFs

Countries are increasingly exploring the establishment of national reserves of Bitcoin as the cryptocurrency approaches a price of $100,000. Bhutan is reportedly leading the charge, amassing reserves valued at over $1 trillion. In addition, more than 1,200 companies in the U.S. hold Bitcoin exchange-traded funds (ETFs), which now collectively own over 1 million tokens, representing approximately 5% of the total Bitcoin supply. A finance minister from a small Caribbean nation has disclosed plans to purchase $25 million in Bitcoin for currency reserves and is considering adopting Bitcoin as legal tender by 2025. The momentum for Bitcoin is further supported by influential figures in the finance sector, who are bullish on the cryptocurrency's adoption by nation-states. The potential for a U.S. national stockpile of Bitcoin could encourage further government investments in the digital asset, although such concentrated ownership raises concerns about associated risks.