Bhutan Now Among the Largest Holders of Bitcoin in the World, Owns $1 Billion Worth of BTC

A small Asian country sitting in the Himalayas is now among the largest holders of Bitcoin in the world. Bhutan might be occupying a small land area but it achieved a huge milestone in its cryptocurrency investments hitting $1 billion worth of Bitcoin.

Bhutan, a small Himalayan country, has quietly become one of the largest holders of Bitcoin in the world, with a staggering $1 billion worth of the cryptocurrency in its coffers.

The landlocked nation has been steadily increasing its presence in the crypto space, building up its Bitcoin reserves in a move that analysts say is a strategic investment approach.

According to a report by Arkham Intelligence, Bhutan now ranks among the major players in the cryptocurrency industry, boasting an impressive ownership of BTC to the tune of $1 billion - a remarkable achievement for such a small country.

The Royal Government of Bhutan now owns $1 Billion in Bitcoin. pic.twitter.com/y8MQdCqMDy

— Arkham (@ArkhamIntel) November 11, 2024

This key milestone highlights the calculated steps taken by Bhutan's government to diversify its economy, especially in light of the tourism sector's vulnerability to the impact of the COVID pandemic.

Druk Holdings, the firm handling the country's BTC investments, holds 12,568 Bitcoins, a testament to Bhutan's status as a premier BTC investor globally.

Bhutan, renowned for its hydropower resources, channels these earnings into its BTC investments, ranking fourth among nations with crypto holdings, joining El Salvador in a league of its own.

The Royal Government of Bhutan has utilized its natural resources to increase its cryptocurrency reserves, reaching this milestone. The country has implemented a consistent Bitcoin mining strategy, leveraging its rich natural resources to minimize operational costs.

Bhutan's rich hydropower resources enable the Himalayan country to sustain its crypto mining operations, which contribute significantly to the country's economy.

Over 25% of the country's GDP is reportedly generated through Bitcoin mining, showcasing the government's commitment to transforming cryptocurrency into an economic asset.

The country has already mined 13,011 BTC, making it the government with the largest holding of BTC.

This achievement by Bhutan reflects a broader global trend, with many nations recognizing the value of cryptocurrency as an asset. Bhutan and El Salvador stand out as countries embracing cryptocurrency as a financial tool.

The premier cryptocurrency continues to gain appeal as more countries are exploring the potential of BTC as part of their national reserve. El Salvador famously announced in 2021 that it will be adopting Bitcoin as a legal tender.

Bhutan's status as a major crypto adopter is another excellent example, but analysts note that other countries could learn from Bhutan's unique model of hydropower-powered mining strategy.

Featured image from OneSafe, chart from TradingView