Bhutan’s Bitcoin reserves have quietly grown to over $1 billion, making the tiny Himalayan kingdom a unique player in the world of sovereign wealth.
According to data from Arkham Intelligence, Bhutan’s government-run Druk Holdings has reportedly amassed more than 12,500 BTC, marking a significant commitment to digital assets amid growing interest in crypto as a strategic asset.
Strategic reserve
While Bhutan’s crypto investments are not new, the kingdom’s position as a major Bitcoin holder has attracted new attention following Donald Trump’s election victory.
Advocates within the crypto community have long speculated that a US-led Bitcoin sanctuary could become a reality, especially with Trump’s support for digital assets and deregulation. Lawmakers have already introduced bills to create such a stockpile for the US, while Trump himself has previously said he would ensure that the US does not sell the Bitcoin it already holds.
Bhutan, which began building its Bitcoin reserves through mining several years ago, now finds itself at the center of this global dialogue, not to initiate a new movement, but as an example of how smaller countries can benefit from the adoption of digital assets could navigate.
The valuation of Bhutan’s assets is an example of a progressive strategy that could serve as a model for similar economies looking to diversify beyond conventional reserves.
Trump’s pro-business stance and openness to deregulation have fueled expectations that his administration could endorse Bitcoin as a strategic asset, potentially reshaping how the US approaches its reserves.
Financial analysts believe that a US Bitcoin reserve could change the dynamics of sovereign wealth, influencing other countries to adopt similar policies. This has given rise to much speculation about which country could be the first to go public with such an intention.
Adoption by nation states
Dennis Porter, CEO of the Satoshi Act Fund, recently teased people by “guessing” which country would be the first to start accumulating Bitcoin as a reserve asset, indicating he knew the answer.
Some speculated that he was talking about the US; However, other rumors suggest it could be one of many other countries, including Qatar and the UAE, both of which have been at the center of such baseless rumors for some time now.
Apollo CEO Julian Fahrer shared a list of the eight leading sovereign wealth funds, including the UAE, China and Norway, that are well-positioned to adopt Bitcoin as part of their national reserves.
Unsubstantiated reports have further fueled this speculation, particularly rumors that an unknown entity would purchase 100 Bitcoin daily for an extended period of time. Initially rumored to involve Qatar, this activity remains unconfirmed, leaving open the question of whether it is linked to a government agency or other institutional buyer.
If the Trump administration pursues a Bitcoin reserve, it would mark an unprecedented shift in US financial policy, potentially impacting global markets and heralding a new era in nation-state adoption of digital assets.