Back

Bhutan's Bitcoin Holdings Reach $1.3 Billion, Nearly 40% of GDP

Bhutan is leveraging its Bitcoin mining operations to counteract tourism revenue declines, now holding about 12,000 BTC, positioning itself as a top global reserve holder.

BTC

Summary

Bhutan holds approximately 12,000 BTC, valued at about $1.3 billion, which constitutes roughly 40% of its GDP. The government has utilized Bitcoin mining profits to fund salary increases for employees and is integrating cryptocurrency payments in tourism, allowing transactions with over 100 cryptocurrencies.

Terms & Concepts
  • Bitcoin holdings: The quantity of Bitcoin owned by an entity, in this case, the government of Bhutan.
  • hydroelectric-based mining: A Bitcoin mining strategy that utilizes hydroelectric power, allowing for more sustainable and cost-effective mining operations.
  • GDP (Gross Domestic Product): The total monetary value of all goods and services produced in a country, used to measure its economic performance.