Arkham Launches Spot Trading Platform in the United States, Bhutan's GDP Share in Bitcoin, MicroStrategy Market Cap Milestone

Arkham Intel reported that the Government of Bhutan held 12,207 BTC, valued at approximately $1.14 Billion USD despite their recent sell action.

Blockchain data firm Arkham has launched its spot trading platform in the United States, expanding its services in the country.

Earlier, Arkham announced a perpetual contract exchange, but the service was not available in the U.S.

This move aligns with the firm's goal of providing secure and transparent trading environments, aiming to promote wider adoption and accessibility of cryptocurrency trading in the United States.

The newly launched spot trading platform will integrate advanced security features, including instant on-chain audits and traceable proof of reserves. These features aim to instill trust in the volatile cryptocurrency market.

Bhutan's GDP Share in Bitcoin

According to Arkham Intel, the Government of Bhutan held 12,207 BTC, valued at approximately $1.14 Billion USD despite recent sell actions.

This substantial investment in Bitcoin represented about 39% of Bhutan's GDP, which was recorded at $2.9 Billion in 2023.

Bhutan ranks third worldwide in government Bitcoin holdings, behind the United States and the United Kingdom.

For over three years, Bhutan has utilized its renewable energy resources to mine Bitcoin, aligning its technological investments with environmental consciousness.

The nation's strategic investments in cryptocurrency suggest that if Bitcoin were to triple in value, Bhutan's holdings could equate to its entire GDP.

This progressive move is part of Bhutan's broader commitment to energy security and regional integration.

Recently, Bhutan signed a Memorandum of Understanding with Tata Power Company Limited, aiming to develop 5,000 MW of renewable energy projects, further cementing its position as a leader in sustainable energy and innovative financial practices.

MicroStrategy's Market Cap Milestone

Separately, MicroStrategy, known for its massive Bitcoin holdings, has just crossed a market cap of $100 Billion, a significant achievement.

This places MicroStrategy among the top 93 largest public companies in the United States, surpassing industry giants like Intel and aligning closely with Micron's valuation.

Interestingly, MicroStrategy's market valuation is now $15 Billion higher than that of Dell, a Fortune 500 company. MicroStrategy has ascended past 40 companies in the ranking within just 24 hours as of press time.

This rapid rise underscores the growing influence of Bitcoin-focused companies in the traditional financial marketplace.

This comparison becomes even starker when juxtaposed with the precious metals sector. The market caps of the two largest gold miners, Newmont and Barrick, closed at $49.2 Billion and $31.0 Billion respectively.

Together, these gold giants held a combined market cap of $80.2 Billion, which now falls below MicroStrategy's new valuation.

MicroStrategy's success story attests to the increasing acceptance and integration of Bitcoin within mainstream financial systems.

It reflects a substantial shift in investment paradigms, where traditional assets like gold are being rapidly outpaced by digital assets.

This shift not only highlights the potential long-term growth of Bitcoin but also signals a transformative period in global market trends, where cryptocurrency-related businesses are beginning to take the lead.