Bhutan’s Bitcoin Investment Surpasses $1.14 Billion, Making Up 39% of Its GDP
In a stunning development during the ongoing bull run of Bitcoin, Bhutan has seen an extraordinary 39% of its total GDP made up entirely of its Bitcoin holdings. The country’s accumulation of BTC has now reached an impressive $1.14 billion. This notable milestone highlights Bhutan’s bold move, following in the footsteps of El Salvador, which made Bitcoin legal tender in 2021. As a result, Bhutan’s Bitcoin investment has now surpassed $1 billion, showcasing the transformative potential that digital assets hold for emerging economies.
The year 2024 has been pivotal for Bitcoin, positioning it as one of the most important years in the cryptocurrency’s history. Not only has its value surged, but Bitcoin’s role in mainstream finance has also grown significantly. This growth has been further fueled by the potential regulatory shifts under Donald Trump’s leadership, with the crypto asset recently reaching a price of $93,000. Additionally, Trump is reportedly planning to establish a Bitcoin strategic reserve for the United States.
However, several nations were already ahead of the curve when it came to recognizing Bitcoin’s potential, and Bhutan is one of those countries. The Himalayan nation’s Bitcoin holdings now represent 39% of its GDP, according to data from Arkham Intelligence, with the value of its stash exceeding $1.14 billion.
In fact, Bitcoin’s market cap has now surpassed that of the world’s top three largest banks combined. Currently valued at $1.85 trillion, Bitcoin holds a higher market capitalization than JPMorgan Chase ($684 billion), Bank of America ($356 billion), and ICBC ($280 billion), further solidifying its position as a global financial asset.
Bhutan has mirrored El Salvador’s approach to Bitcoin investment, with the Central American country’s Bitcoin holdings surpassing $550 million. Together, these two countries stand as powerful examples of how cryptocurrencies can reshape the financial landscape. Their bold moves offer a compelling vision for other developing nations, demonstrating the vast possibilities that Bitcoin and digital assets present to emerging economies.
