Bhutan on Saturday emerged as the fourth-largest Government holder of Bitcoin globally, owning over 13,011 BTC worth USD 780.49 million. According to Arkham Intelligence, a public data application that allows users to analyse blockchain and cryptocurrency activities.

As of September 16, 2024, Bhutan's bitcoin holdings have reached $750 million, making it the fourth-largest government holder on Arkham's platform. This positions Bhutan as a significant player in the global cryptocurrency market, especially considering its small population of less than 800,000.

Bhutan’s Bitcoin haul comes courtesy of Druk Holdings, the state-owned entity that has been aggressively expanding its mining operations. Through its partnership with mining giant Bitdeer, Druk Holdings has significantly increased its Bitcoin mining capacity.

Bhutan, nestled in the Himalayas, considers its fewer than 900,000 citizens’ happiness a better measure of the country's well-being than money. It is the second nation after El Salvador to officially hold BTC, in this case as part of the state-owned Druk Holdings fund.

The Kingdom of Bhutan, a landlocked small sovereign state in South Asia, holds more Bitcoin than El Salvador, and the massive treasury didn't come from seizures or purchases, but from mining the world's top digital asset.

Arkham revealed that Bhutan holds twice as much Bitcoin as El Salvador, becoming the 4th largest Bitcoin holder among countries.