Public financial disclosures from the Bhutanese government or credible financial news outlets

Bhutan's Bitcoin Holdings Reach $1.14B, 12,207 BTC, 3rd Globally

Nov 20, 2024, 12:30 PM

Bhutan has significantly increased its Bitcoin holdings, now amounting to $1.14 billion or 12,207 bitcoins, which represents 39% of its GDP. This surge in value is attributed to the country's utilization of previously stranded hydropower resources for Bitcoin mining over the past three years. Bhutan now ranks third in government Bitcoin holdings globally, only surpassed by the United States and the United Kingdom. The country's 2023 GDP was reported at $2.9 billion USD, highlighting the substantial impact of Bitcoin on its economy.