Bhutan Surpasses El Salvador in State-Held Bitcoin Reserves, Ranking Third Globally

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Bitcoin Reserves in Bhutan and El Salvador
  2. Origins of Bhutan's Bitcoin Reserves
  3. Clean Energy Powers Bhutan's Bitcoin Mining


    4. Recent data shows Bhutan holds more Bitcoin than El Salvador, emerging as a surprising leader in state-held Bitcoin reserves.

    Bitcoin Reserves in Bhutan and El Salvador

    According to the latest data, Bhutan has unexpectedly emerged as a leader in state-held Bitcoin reserves, with a total value of $782.46 million. This significantly surpasses El Salvador's reserves, which are valued at $351.75 million. Despite its small population of just 782,000, Bhutan holds more than twice as much Bitcoin as El Salvador, which has a population of over 6.3 million. Globally, Bhutan ranks third in state-held Bitcoin assets, behind only the United States ($12.16 billion) and the United Kingdom ($3.67 billion).

    Origins of Bhutan's Bitcoin Reserves

    Bhutan's significant Bitcoin reserves can be traced back to April 2019, when Bitcoin was valued at around $5,000. Bhutan's sovereign investment arm, Druk Holding & Investments, confirmed that the country began mining Bitcoin at that time. Since then, Bhutan has leveraged its vast hydroelectric resources to power large-scale mining operations.

    Clean Energy Powers Bhutan's Bitcoin Mining

    Bhutan's rivers, fed by Himalayan glaciers, provide an impressive 23,760 MW of technically feasible hydroelectric capacity. Hydropower makes up 30% of Bhutan's GDP, and by 2003, 99.5% of the country's electricity was sourced from hydroelectricity. This clean energy infrastructure allows Bhutan to expand its Bitcoin mining activities while maintaining its environmental commitments. To put Bhutan's hydroelectric potential in perspective, the country's total capacity could power over 17 million American homes or more than double the energy needs of a city like New York.

    Bhutan has demonstrated an unexpected leadership position globally in state-held Bitcoin reserves, utilizing its natural resources for mining and asset accumulation. This places Bhutan in an interesting position amidst the rapidly evolving cryptocurrency market.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

MEXC Launches 'Trading Takes Two' Campaign to Showcase AI Capabilities

MEXC is launching a month-long campaign titled 'Trading Takes Two' to showcase how MEXC AI supports users in their trading journey.

user avatarTenzin Dorje

HTX Research Highlights Risks in Stock-Linked Memecoins

HTX Research's report highlights the risks of stock-linked memecoins, focusing on misleading high APY figures and the importance of understanding market conditions.

user avatarBayarjavkhlan Ganbaatar

HTX Research Unveils Insights on Stock-Linked Memecoins

HTX Research has released a report on stock-linked memecoins, analyzing their market structure and growth potential.

user avatarMohamed Farouk

BAI Builds Closed-Loop Infrastructure for the Agent Economy

BAI is building a closed financial loop for the agent economy, integrating models and agents to facilitate seamless transactions.

user avatarDiego Alvarez

BAI Sets New Industry Record with 151 Trillion Tokens Daily Throughput

BAI has set a new industry record with a daily throughput of over 151 trillion tokens, marking a significant increase since its launch.

user avatarElias Mukuru

Justin Sun Prize Launched to Transform Scientific Research

The Justin Sun Prize has been established to redefine scientific rewards in the AI era, offering up to $1 million for breakthroughs in fundamental disciplines and machine formal verification.

user avatarKenji Takahashi

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.