In a remarkable development amid Bitcoin's meteoric rise to nearly $90,000, the small Himalayan nation of Bhutan has emerged as one of the world's leading national holders of the cryptocurrency, with holdings now valued at over $1 billion.
Through its state-owned entity Druk Holdings, Bhutan currently possesses approximately 12,568 Bitcoin, alongside 656 Ethereum worth over $2 million and various other digital assets. The country's strategic entry into cryptocurrency began in April 2019, when Bitcoin was trading around $5,000.
The nation's journey into digital assets started as a response to economic challenges during the COVID-19 pandemic. Bhutan innovatively leveraged its surplus energy resources for Bitcoin mining operations, transforming potential economic hardship into a profitable venture.
Recent market data reveals Bhutan's active management of its cryptocurrency portfolio. In late October, the country moved Bitcoin worth $66 million to Binance in two separate transactions, suggesting a balanced approach between holding and strategic selling.
The country's success story represents a striking example of how smaller nations can harness cryptocurrency's potential. While maintaining a relatively low profile, Bhutan has built one of the most substantial national cryptocurrency reserves globally.
As Bitcoin continues its upward trajectory, Bhutan's early adoption and strategic management of digital assets have positioned the country to benefit substantially from the ongoing crypto market rally. This achievement marks a notable milestone in the integration of digital assets into national reserve strategies.