This Southeast Asian country’s secret crypto investments with BlockFi and Celsius came to light with their collapse!
- The collapse of BlockFi and Celsius revealed the secretly made crypto investments.
- The investment arm failed to repay the loan taken from BlockFi.
This Southeast Asian country’s secret crypto investments with BlockFi and Celsius came to light with their collapse!
Southeast Asian Country Creating Crypto Portfolio
It has been reported that the Himalayan country of Bhutan (officially known as the Kingdom of Bhutan), surrounded by Karayla, secretly invested millions of dollars in Bitcoin and other cryptocurrencies. The collapse of BlockFi and Celsius revealed previously undisclosed investments.
According to court records, Druk Holding & Investments, Bhutan’s $2.9 billion national investment arm, was a customer of the bankrupt crypto lending institutions BlockFi and Celsius.
Although Druk Holding & Investments is responsible for managing a portfolio consisting of local assets, it appears to have also been secretly creating a crypto portfolio since 2022. This was revealed after last year’s crypto crashes, which caused a number of businesses, including FTX and Voyager, to fail.