This Surprising Country Emerged as Major Bitcoin Holder with $780 Million in BTC

Bhutan has emerged as a significant player in the Bitcoin market, holding approximately 13,011 BTC, valued at around $780 million.

This discovery, reported by Arkham Intelligence, reveals the country’s notable involvement in cryptocurrency, with its Bitcoin holdings making it the fourth-largest government holder of the digital asset.

Unlike many nations that acquire Bitcoin through law enforcement actions, Bhutan’s substantial reserve has been amassed through its burgeoning Bitcoin mining industry. This sector has seen rapid expansion since early 2023, managed by Bhutan’s investment entity, Druk Holdings. Mining operations are conducted at various locations, including a major site on a former educational project area. These developments have been confirmed through both blockchain data and satellite imagery.

In May 2023, Bhutan partnered with Bitdeer to launch a carbon-neutral Bitcoin mining venture, reflecting its commitment to sustainable practices. Plans are in place to boost their mining capacity significantly, from 100 to 600 megawatts, leveraging the country’s ample hydropower resources.

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Globally, major Bitcoin holders include the United States, which holds over 207,000 BTC, largely obtained through criminal seizures since 2020. China follows with around 190,000 BTC from the PlusToken Ponzi scheme. The UK has amassed over 1.3 million BTC, with approximately 61,000 BTC still in its possession. Ukraine controls 46,351 BTC, using crypto seizures to address corruption, while El Salvador holds 5,748 BTC, benefiting from favorable market conditions.

Bhutan’s rise as a major Bitcoin holder highlights its significant role in the cryptocurrency market, driven by its focus on eco-friendly mining practices and strategic investments.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.