Damcho Rinzin, the director of Bhutan’s Department of Tourism, said the sector has struggled because of its payment infrastructure. The Kingdom of Bhutan is integrating cryptocurrency payments into its tourism infrastructure in a bid to modernize its economy and attract younger, tech-savvy travelers. In a panel discussion during Binance’s Crypto-Powered Tour in Bhutan, Damcho Rinzin, the director of Bhutan’s Department of Tourism, told the audience that the country’s tourism sector has long struggled because of the country’s payment infrastructure. On May 7, Binance Pay partnered with local bank DK Bank to let users pay for their expenses in Bhutan using crypto. During the panel discussion, DK Bank president Ugyen Tenzin said almost 1,000 merchants nationwide have been onboarded to accept the payment method. Read more
Japan’s Metaplanet has become the world’s fifth-largest corporate Bitcoin holder after acquiring 2,204 BTC. Japan’s top corporate Bitcoin treasury company, Metaplanet, has acquired another 2,204 Bitcoin for $237 million. In a filing on Monday, the company said it acquired an additional 2,204 Bitcoin (BTC) at an average price of 15,640,253 Japanese yen per Bitcoin (about $107,700). This brings Metaplanet’s total holdings to 15,555 BTC at an average purchase price of about $99,985 each. According to BitcoinTreasuries.NET data, Metaplanet is the fifth-largest corporate holder of Bitcoin. The company overtook the holdings of electric vehicle manufacturer Tesla in late June with an acquisition of 1,234 BTC, which brought its holdings to 12,345 BTC, with Tesla holding 11,509 BTC. Read more
A widely used Bitcoin technical analysis indicator suggests that BTC is on the verge of a “big move” toward new all-time highs. Key takeaways: Bitcoin’s Bollinger Bands indicator now sees the potential for BTC price breakout above $110,000. Bitcoin eyes new all-time highs in July due to multiple tailwinds. Read more