At press time Brunei’s B$10,000 count is equal roughly to $7,584. According to Bitcoin price Index, it is trading at about $7,700 after surging from about $7,611 in the last 24-hour period. There is a portrait of Sultan Hassanal Bolkiah on the bill, and it was issued in 2006. Sultan Hassanal Bolkiah, one of the last absolute monarchs, is known as one of the richest men in the world, as reports suggest he is worth over $20 billion, thanks to the country’s vast oil and gas fields, which account for nearly all of its economy.
Brunei has less than half a million residents, and recently adopted strict Islamic sharia law, which drew criticism from different international rights groups. Last year in December the country’s central bank warned the citizens against cryptocurrencies.
The Brunei dollar’s value corresponds to the Singaporean dollar. Singapore also had its own S$10,000, but, as reported earlier, discontinued it. High-denomination notes are being retired throughout the world, as these reportedly make it easier to conduct terrorism financing, money laundering, tax evasion and other illicit activities.
As reported in an article by International Monetary Fund (IMF), a briefcase with $100 bills would be 70% full, when a briefcase with Brunei’s largest note would only be 1,5% full. The article puts forward the supposition that being easy to transport makes these notes perfect for criminals. A resembling argument was also used in the past against the cryptocurrencies.