- Arkham Intelligence’s on-chain data shows that Bhutan’s 13,029 Bitcoin ($BTC) Holding shares.
- Bhutan Now 4th largest $BTC holder Among global governments, the second place is occupied by the United States, China and the United Kingdom.
- El Salvador Holds Only 45% of Bhutan’s BTC Holdings are 5,875 BTC ($331 million).
Bhutan, a South Asian country, is now El Salvador’s $BTC reserves more than doublemaking Bhutan the fourth largest $BTC holder among governments, behind the United States (213K $BTC), China (190K $BTC), and the United Kingdom (61K $BTC).
Bhutan holds over $750 million in BTC
Bhutan’s $BTC holdings primarily come from mining operations, rather than investments or crypto seizures by law enforcement.
On September 16, Arkham Intelligence revealed that Bhutan’s state-owned investment institution Druk Holdings (DHI) currently owns 13,029 BTC (worth approximately $758 million). Statistics BureauBhutan’s GDP is expected to reach $3.11 billion by the end of this year, which means the country’s current BTC holdings account for a quarter of its GDP.
DHI’s latest portfolio also includes 656 Ethereum ($ETH), worth about $1.5 million, and smaller holdings of Polygon ($MATIC) and BNB ($BNB).
In May 2023, DHI cooperated with Singaporean cryptocurrency company Bitdeer to develop Carbon-free crypto mining operations In Bhutan.
Bhutanese officials Local news confirmed They started Mining $BTC Using hydroelectric power In April 2019, $BTC was trading at around $5,000.
$BTC Adoption in El Salvador
In 2021, President Nayib Bukele of El Salvador announced the adoption of $BTC as Fiat CurrencyEl Salvador became the first country to do so. The country generated over $31 million in profits within three years of adopting $BTC.
Interestingly, El Salvador uses Volcanic geothermal energy Mine $BTC and start buying the token at $517,000 in September 2021. Nayib TrackerEl Salvador now holds 5,875 BTC (worth $331 million). This accounts for about 45% of Bhutan’s Bitcoin holdings.
In conclusion
In addition to its impressive $BTC holdings, DHI’s portfolio extends to $ETH, $MATIC, and $BNB, suggesting that Diversified investment strategy.
In addition, Bhutan’s green $BTC mining practices may Providing a new source of revenue for the country and position it as a leader in its field.
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Disclaimer: The opinions expressed in this article do not constitute financial advice. We encourage readers to conduct their own research and determine their own risk tolerance before making any financial decisions. Cryptocurrency is a highly volatile, high-risk asset class.
