Official government announcements or credible financial reports

Bhutan's Bitcoin Holdings Reach $1 Billion, 34% of GDP, Amidst $10 Trillion in Total Assets

Nov 11, 2024, 11:37 PM

The Royal Government of Bhutan has announced that it now owns $1 billion in Bitcoin, marking a significant milestone in the nation's cryptocurrency holdings. This figure represents approximately 34% of Bhutan's GDP, equating to about $10 trillion in US terms. The announcement comes amidst growing speculation regarding nation-state adoption of Bitcoin, as Bhutan joins the ranks of countries like the United States, which holds about $18 billion in Bitcoin, and El Salvador, with approximately $500 billion. Bhutan's substantial investment in Bitcoin highlights a shift towards digital assets in the region.