Bhutan Holds Nearly a Third of Its GDP in Bitcoin, Worth $828 Million, Ranks Fourth Globally

Sep 23, 2024, 02:57 PM

The Kingdom of Bhutan has made significant strides in Bitcoin adoption, holding nearly a third of its GDP in Bitcoin. According to data from Arkham Intelligence, Bhutan's Bitcoin holdings amount to $828 million, making it the fourth largest government holder of Bitcoin. This is notable given Bhutan's small population of 782,000. Bhutan's approach involves mining Bitcoin using its abundant hydropower resources, which has allowed the country to accumulate over 13,000 BTC. This strategy has positioned Bhutan ahead of countries like El Salvador, which has 6.3 million people but holds less Bitcoin. Bhutan's proactive investment in Bitcoin mining contrasts with the methods used by countries like the United States and China, which have acquired Bitcoin through seizures and legal battles. Bhutan has mined almost 27% of its annual GDP in Bitcoin. The United States and the United Kingdom hold $12.16 billion and $3.67 billion in Bitcoin, respectively.