Source: Cointelegraph Original: "{title}"
According to Onchain Lens, which analyzed data from Arkham Intelligence, the Bhutanese government transferred $63 million worth of Bitcoin (BTC) to three wallets on March 24.
As of the time of writing, one of the wallets holds 600 Bitcoins, valued at approximately $53 million.
Since 2019, Bhutan has been utilizing its abundant hydropower resources to mine Bitcoin. In September 2024, Arkham reported that it discovered the first wallet associated with Bhutan's government investment agency, Druk Holdings. After the transfer on March 24, this wallet held Bitcoin investments worth $889 million.
Source: Onchain Lens
Statistics show that the cryptocurrency held by Bhutan accounts for 30.7% of its Gross Domestic Product (GDP). According to the latest data from the World Bank, Bhutan's GDP reached $2.9 billion in 2023.
Although Bitcoin is the main cryptocurrency asset held by the Bhutanese government, the country does not seem to be pursuing a single Bitcoin-based strategic reserve. Other crypto assets in the Druk Holdings wallet include Ethereum (ETH) valued at $334,580, as well as small amounts of LinqAI (LNQ), Phil (PHIL), and Apu Apustaja (APU).
As of March 24, 2025, the cryptocurrency holdings of the Bhutanese government. Source: Arkham Intelligence
In October 2024, Bhutan transferred $66 million worth of Bitcoin to Binance. Over the past two months, the Bhutanese government has been transferring small amounts of Bitcoin and Ethereum from its main wallet to other addresses.
Governments Adopting Cryptocurrency Reserves
The central government of Bhutan is not the only government agency in the country adopting cryptocurrency; this practice has also permeated to the municipal level. In January 2025, the Geylegphug Special Economic Zone in Bhutan announced plans to incorporate various digital assets into its strategic reserves.
During this current bull market that began in 2024, governments adopting Bitcoin as a strategic reserve have seen a significant increase in the value of their Bitcoin holdings. In November 2024, the value of Bitcoin held by El Salvador soared to $100 million, while the U.S. government currently holds over $17 billion worth of Bitcoin.
While central governments are receiving much attention, some state governments are also considering creating Bitcoin reserves. In the U.S., Texas has passed its Bitcoin reserve bill, although it still needs to be signed by the state's governor to become law.
Some states, like Arizona, are gradually moving closer to making their Bitcoin reserve bills law, although some states have already vetoed their Bitcoin bills for various reasons.
Related: Minnesota Senator's Shift in Attitude from Skepticism to Support and Proposal of the "Bitcoin Bill"
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
