The Bhutan government transferred significant amounts of Bitcoin to its cryptocurrency wallets in March 2025. This move highlights the country's efforts to enhance its cryptocurrency reserves.
Bhutan's Cryptocurrency Transfers
On March 24, the government of Bhutan transferred $63 million worth of Bitcoin to three separate wallets, according to Onchain Lens. One wallet now holds 600 BTC, approximately $53 million. Bhutan has leveraged its abundant hydroelectric power to mine Bitcoin since 2019. Arkham Intelligence identified the first such wallet tied to Bhutan's government in September 2024.
Bhutan's Cryptocurrency Reserves
Bhutan's cryptocurrency assets represent 30.7% of its GDP, which the World Bank estimates at $2.9 billion in 2023. Besides Bitcoin, the Druk Holdings wallet holds $334,580 in Ether and smaller amounts of other cryptocurrencies. In October 2024, Bhutan moved $66 million in Bitcoin to Binance, following with further redistributions from its main wallet to other addresses.
Global Trend in Cryptocurrency Reserves
Bhutan is not the only nation implementing cryptocurrency reserves. Such strategies are also present at the local level. In January 2025, Bhutan’s Gelephu Special Administrative Region announced plans to recognize various digital assets as part of its strategic reserve. Other countries, like El Salvador and the United States, are likewise increasing their Bitcoin reserves to capitalize on the ongoing crypto bull run.
These developments underscore the growing role of cryptocurrencies as strategic assets for countries. The interest from Bhutan and other governments highlights the relevance of such investments in a growing economic landscape.
