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Glossary
- Bhutan’s Bitcoin reserve is valued at $1.1 billion, 34% of its GDP.
- Bitcoin’s price surge to $93,683.19 significantly boosted Bhutan’s holdings.
The Royal Government of Bhutan has strategically accumulated Bitcoin worth over $1.1 billion, representing 34% of the nation’s GDP. This significant holding stems from Bhutan’s innovative use of its vast hydropower resources to mine. Bhutan has emerged as one of the largest state-level holders of cryptocurrency. Bhutan now ranks third in govt BTC holdings, after the US and UK.
Druk Holdings and Investments (DHI), a government-owned entity, actively leads the initiative while effectively using stranded hydropower to mine Bitcoin. Moreover, the country utilizes its hydropower capacity, clearly demonstrating how renewable energy supports Bitcoin mining and diversifies national reserves.
Bitcoin Surge Elevates Bhutan’s Holdings
Recent Bitcoin price surges have substantially boosted the valuation of holdings. Bitcoin’s current price, a record high, underscores the nation’s decision to adopt cryptocurrency as a long-term asset. Moreover, the country’s accumulation strategy combines mining withholding, benefiting from both operational efficiency and price appreciation.
Bitcoin’s current price stands at $93,683.19, reflecting a 1.27% daily increase, with a market cap of $1.85 trillion. The 24-hour trading volume surged to $76.58 billion, marking a 7.73% rise. Bitcoin’s fully diluted valuation (FDV) now reaches $1.97 trillion, with a volume-to-market cap ratio of 4.14%.
Bhutan’s $1.1 billion Bitcoin reserve has drawn comparisons to policies discussed in larger economies. For instance, following political shifts in the U.S., there are increasing debates about creating a national Bitcoin reserve.
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