As Bitcoin adoption increases day by day, it has emerged that another country owns Bitcoin.
According to a report by Arkham Intelligence, the South Asian country of Bhutan, one of the most isolated countries in the world, has 13,011 BTC worth approximately $780.49 million.
While Bhutan’s Bitcoin address was identified for the first time, the Arkham report said that Bhutan is the fourth largest government by BTC holdings.
It was stated that Bhutan obtained these BTCs through mining activities conducted by the state-owned Druk Holdings.
It was added that these BTCs are equivalent to approximately one-third of the country's GDP.
“The Bhutanese government has $750 million worth of BTC and it is now in ARKHAM.
These BTCs come from Bitcoin mining operations run by Druk Holdings, the investment arm of the Kingdom of Bhutan.
Arkham was the first organization to make these addresses public.
With over $750 million worth of BTC on our platform, Bhutan is the 4th largest government holding Bitcoin.
Unlike most governments, Bhutan’s BTC comes not from law enforcement asset seizures, but from Bitcoin mining activity, which has increased significantly since the beginning of 2023.”
*This is not investment advice.