Bhutan Quietly Mines 12,962 BTC Worth $1.29 Billion Since 2020

Bhutan has emerged as a significant player in the global Bitcoin landscape, having quietly mined over 12,000 BTC since 2020. This substantial mining effort has resulted in a sovereign reserve worth approximately $1.29 billion, positioning Bhutan as a stealth whale in the crypto world. With nearly 40% of its GDP tied up in Bitcoin, Bhutan now ranks just behind the U.S. and China in terms of nation-state Bitcoin holdings.

The Royal Government of Bhutan, through its state-owned investment arm Druk Holdings, has been methodically accumulating Bitcoin. This long-term strategy is evident in the consistent accumulation of Bitcoin, indicating a strong conviction in the asset's value. The use of institutional-grade handling and smart contract tools to secure its crypto reserves further underscores Bhutan's commitment to this digital asset.

Bhutan's crypto portfolio is predominantly composed of Bitcoin, with 12,962 BTC in custody. This Bitcoin-heavy treasury structure reflects a hard-money thesis focused on asset preservation and long-term upside. The minimal exposure to Ethereum, with holdings sitting at just 656.812 ETH, worth around $1.61 million, signals that Bhutan is not chasing altcoin narratives but is instead betting on Bitcoin as a nation-state reserve.

Bhutan's approach to Bitcoin mining and accumulation is part of a broader trend where countries are treating Bitcoin as digital gold. This strategy is seen as a means of storing wealth on-chain, raising the country's influence in the crypto macro playbook. As other governments delay in adopting cryptocurrency, Bhutan is taking a proactive stance, using blockchain technology to strengthen its financial independence.

El Salvador's move to accept Bitcoin as legal tender has sparked international debate and set a precedent for other countries to follow. Bhutan's actions, along with those of other nations like the UAE, Nigeria, and Argentina, indicate a growing recognition of the potential of cryptocurrency in economic defense and innovation. As fiat uncertainty rises, Bitcoin is becoming a digital armor for emerging economies, providing a sovereign weapon in the age of digital finance.

Bhutan's bold move to mine and hold a significant amount of Bitcoin reflects a strategic shift in how countries are approaching digital assets. By treating Bitcoin as a sovereign reserve, Bhutan is not only securing its financial future but also positioning itself as a leader in the global crypto landscape. This move underscores the growing importance of cryptocurrency in the global economy and highlights the potential for other nations to follow suit.