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Bitcoin’s recent rise above $62,000 is an important breakthrough, as the cryptocurrency has been consolidating near the $60,000 mark for a while.

Bhutan’s Bitcoin didn’t come from regular purchases, but from mining. Local reports show that the country started mining Bitcoin back in April 2019, when the price was much lower—around $5,000 per coin. 

One major factor behind this rise is the decline of altcoins. Ethereum, the second-largest cryptocurrency, has seen its market share fall sharply.