Here is some Bitcoin news for the month:
- Blockchain intelligence firm Arkham revealed that the country of Bhutan has 13,029 BTC (around $758 million), This represents approximately 27.9% of Bhutan’s estimated 2023 Gross Domestic Product of $2.686 billion. These holdings come from Bitcoin mining operations carried out by the Kingdom of Bhutan’s investment arm, Druk Holdings (DHI).
- The Louisiana State Treasurer has announced that the state government will now accept Bitcoin, Bitcoin Lightning Network, and USD Coin, as a valid form of payment for state services.
- US Bitcoin ETFs see the largest single-day inflow ($263 million) since late July.
- Bitcoin reached an all-time high in mining difficulty and hash rate. The increase in mining difficulty demonstrates the robustness and security of the Bitcoin network. Higher difficulty means it’s more challenging for malicious actors to attempt a 51% attack or similar.
- MicroStrategy just bought another 18,300 Bitcoin ($1.11 billion) at ~$60,408 per coin.
- Japan’s largest power company TEPCO is now mining Bitcoin using renewables.
- Marathon (a Bitcoin mining company) acquired more Bitcoin and now owns over 26,200 worth $1.5 billion.
- Chainalysis 2024 Global Crypto Adoption Index reveals Central & Southern Asia and Oceania region dominate crypto adoption rankings, with India at the top.
