A Royal Shuffle: How Bhutan Outmaneuvered North Korea in the Bitcoin Ballroom đŸ•ș

by

It is a truth universally acknowledged, that a single kingdom in possession of a good fortune in bitcoin, must occasionally rearrange it. Thus it was, on May 2, that Bhutan, ever so discretely, adjusted its digital treasury. With 7,486 BTC at their disposal, the Bhutanese Royal Government regally welcomed an additional 4,576 BTC ten days hence, puffing up their chest to a rather blushing 12,062 BTC. North Korea, meanwhile, seemed to engage in the financial equivalent of a nervous fainting spell, allowing its infamous Lazarus Group to unburden itself of bitcoin like an heiress shedding unwanted suitors at a crowded ball.

Of Fortunes Lost and Found: North Korea Retreats from the Crypto Quadrille

Scarcely 57 days ago (though who among us counts so precisely?), North Korea had the enviable position of third-largest bitcoin-accumulator amongst sovereign states. On March the sixteenth, the notorious Lazarus Group—beloved only by its creator, Kim Jong Un—possessed a war chest of 13,562 BTC. A grand sum, even for a regime not known for its philanthropic bent. Yet, the tides of fortune are fickle, and since then, their coffers have ebbed more than Lady Catherine’s patience at a country dance.

A modest exodus of 5,749 BTC has whittled the holdings of the Lazarus Group over the course of two lunar cycles. At present, Arkham Intelligence places their stash at a mere 7,813 BTC as of the twelfth of May—a rather damp squib compared to their former glory. Not that America, ever the ostentatious relation at the table, is troubled: their 198,012 BTC, valued at an utterly immodest $20.38 billion, makes all other states look like penniless cousins at teatime.

Pray, observe: the top five nation-states vying for affection in Bitcoin’s grand ledger.

The United Kingdom, with the restrained air of one declining a third slice of cake, claims second place with 61,245 BTC (a sum worthy of at least one knighthood), while Bhutan, after a recent spring-cleaning, assumes third position with a tidy 12,062 BTC. North Korea, you ask? Now relegated to fourth: respectable, but rather out of the limelight—a fate more mortifying than being caught in last year’s frock at Netherfield.

Should the Lazarus wallets persist in their piteous exodus of BTC, North Korea may tumble further, leaving El Salvador—currently at 6,174 BTC—waving from below. For now, Pyongyang retains a slim margin of 1,639 BTC, though with Lazarus distributing coins like party favors, the El Salvadorian flip is nigh—perhaps sooner than the next formal invitation!

For those who wonder, yes, Pyongyang’s infamous collective dabbles in other cryptic amusements—holding $8.98 million in ETH—though such sums are but pocket change compared to their former bitcoin cache. The stage is set for noble Bhutan to amass and for North Korea to liquidate—trading strategic acumen for a quick sixpence (and possibly a sash of shame).

As ever, America and Britain look smugly from their aristocratic vantage points, Lazarus seems bent on cashing out for
what? Silk waistcoats? Parliamentary intrigue? So it appears the grand waltz of sovereign BTC continues, and El Salvador, eager yet green, eyes a spot on the floor with hopes higher than Mrs. Bennet at a marriageable assembly. 💃💰

Read More

2025-05-12 22:01