Bhutan has emerged as Bitcoin’s third largest government owner, quietly accumulating 12,062 BTC since 2020, and is now valued at just under $1.3 billion. Arkham Inter June 27th.
This trobe represents almost 40% of the Himalayan gross domestic product (GDP), making it one of the most crypto-exposed countries on the planet.
Long wrapped, Bhutan’s Bitcoin Holdings is managed by state-owned Druk Holding and Investments (DHI), the government’s commercial sector.
“For Bhutan, that was very obvious in many ways,” Ujjwal Deep Dahal, CEO of DHI, said in a rare public comment. Dahar pointed out that the country’s abundant hydropower resources provided a clear path to low-cost, sustainable Bitcoin mining, providing strategic advantages that other countries cannot replicate.
Bhutan will begin mining bitcoin in 2020
Bhutan began mining Bitcoin in 2020, taking advantage of the green energy surplus to enter the crypto space with minimal environmental footprint. While some countries have dabbled in holding or regulating BTC, deep long-term integration into Bhutan’s asset class is deliberately highlighting it, not just size.
Bhutan’s holdings now outweigh the holdings of Ukraine and El Salvador, tracking only the US and China in terms of the chain’s government’s Bitcoin reserves.
In addition to the Bitcoin position, Bhutan also owns Ethereum of over $1 million, making ETH the second largest digital asset in its portfolio. Though modest in comparison, this secondary exposure reflects intentional diversification strategies in the broader crypto market.
The implications of Bhutan’s strategy can be broad. In a country long known for prioritizing the happiness of the nation over GDP, the foray into Bitcoin suggests a re-adjusted economic vision that combines sustainable energy, financial innovation and digital reserves of sovereignty.
