Bhutan the small Himalayan kingdom known for its focus on happiness over GDP has quietly become one of the world’s biggest government Bitcoin holders.
Recent blockchain data and reports reveal that Bhutan’s sovereign investment arm, Druk Holding & Investments (DHI), controls around 12,000 to 13,000 BTC. Most of this Bitcoin wasn’t bought on the open market it was mined using the country’s abundant hydropower, giving Bhutan one of the greenest crypto operations in the world.
At today’s Bitcoin prices, that stash is worth about $1.3 billion, which is nearly 40% of Bhutan’s entire GDP. That’s a massive number for a country of less than a million people.
The $696 Million Claim Where It Came From
A few posts circulating on social media recently claimed that Bhutan’s crypto holdings are worth $696 million. However, those reports appear to be outdated or based on old Bitcoin prices.
When Bitcoin was trading below $55,000, Bhutan’s BTC would’ve been worth around that figure but with the current price above $100,000, the true value now sits closer to $1.3 billion.
There’s also no official government statement confirming the $696 million number. Most of these estimates come from blockchain analytics firms that track wallets believed to be linked to Bhutan’s DHI.
How Bhutan Built Its Bitcoin Stack
Instead of simply buying Bitcoin, Bhutan started mining it quietly years ago, using cheap renewable energy.
The country runs several hydropower-driven mining sites.
Earnings from those mines are managed by DHI, which also invests in startups, financial services, and green tech.
Occasionally, Bhutan has moved small amounts of BTC to exchanges such as a transfer of about 213 BTC (worth nearly $24 million) likely to cover operational costs or reinvest profits.
This shows that Bhutan’s approach is long-term and measured, not speculative.
What Bitcoin Traders Should Watch
For traders, Bhutan’s Bitcoin story is more than a headline it’s a quiet signal of how nations might start treating BTC as a strategic asset rather than just an investment.
Here’s what to keep an eye on:
Wallet activity: Big transfers from Bhutan-linked addresses could move the market or hint at policy changes.
Hydropower mining output: Expansions or slowdowns in Bhutan’s clean mining projects can influence their BTC flow.
Official statements: Any acknowledgment or confirmation from DHI could bring institutional attention.
Right now, Bhutan isn’t showing signs of selling. If anything, it’s holding and mining more, betting that Bitcoin’s long-term value will keep rising a stance that aligns with the country’s cautious but confident economic philosophy.
Bottom Line
The $696 million number is outdated. Bhutan’s Bitcoin fortune is now likely above $1.3 billion, putting it among the top sovereign crypto holders globally.
For BTC traders, this is a reminder that not only corporations but entire nations are quietly joining the Bitcoin game. And Bhutan, powered by waterfalls and patience, might just be one of the smartest players in it.
