Bhutan Becomes 4th Largest Government Holder of Bitcoin

The Kingdom of Bhutan has emerged as a surprising player in the cryptocurrency landscape, now holding over 13,000 Bitcoin, valued at approximately $780 million. This significant stash represents nearly one-third of Bhutan's total GDP, estimated at around $3 billion, making it the fourth-largest government holder of Bitcoin globally, trailing only the United States, China, and the United Kingdom.

Bhutan's foray into Bitcoin is uniquely tied to its commitment to sustainability. 

The country has leveraged its abundant hydropower resources to power its mining operations, which are managed by Druk Holdings, a state-owned entity. Since beginning its mining activities in 2019, Bhutan has focused on eco-friendly practices, partnering with Singapore-based Bitdeer to expand its mining capacity from 100 megawatts to an ambitious 600 megawatts by 2025.

Unlike many nations that acquire cryptocurrencies through seizures or purchases, Bhutan's Bitcoin holdings stem entirely from its own mining efforts. This strategy not only diversifies the nation's economy—traditionally reliant on hydropower and agriculture—but also positions Bhutan as a notable contender in the global cryptocurrency market.

As Druk Holdings actively engages in transactions on major exchanges like Kraken, including a notable $25 million transfer earlier this year, Bhutan's innovative approach to digital assets showcases its potential to blend traditional values with modern technology in pursuit of economic growth.