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Bitcoin Bitcoin (BTC) $118,422.61 ↓ -2.32%
Ethereum Ethereum (ETH) $4,283.92 ↑ 0.57%
XRP XRP (XRP) $3.13 ↓ -4.34%
Tether USDt Tether USDt (USDT) $1.00 ↑ 0.03%
BNB BNB (BNB) $801.45 ↓ -1.04%
Solana Solana (SOL) $174.66 ↓ -4.53%
USDC USDC (USDC) $1.00 ↓ -0.01%
Dogecoin Dogecoin (DOGE) $0.22 ↓ -4.86%
TRON TRON (TRX) $0.35 ↑ 1.75%
Cardano Cardano (ADA) $0.77 ↓ -4.62%
Chainlink Chainlink (LINK) $21.21 ↓ -2.26%
Hyperliquid Hyperliquid (HYPE) $42.87 ↓ -6.41%
Stellar Stellar (XLM) $0.43 ↓ -3.83%
Sui Sui (SUI) $3.64 ↓ -4.67%
Bitcoin Cash Bitcoin Cash (BCH) $591.82 ↓ -0.29%
Ethena USDe Ethena USDe (USDe) $1.00 ↑ 0.00%
Hedera Hedera (HBAR) $0.25 ↓ -5.71%
Avalanche Avalanche (AVAX) $22.97 ↓ -4.17%
Litecoin Litecoin (LTC) $119.15 ↓ -5.06%
Toncoin Toncoin (TON) $3.38 ↑ 0.46%
UNUS SED LEO UNUS SED LEO (LEO) $9.09 ↑ 0.65%
Shiba Inu Shiba Inu (SHIB) $0.00 ↓ -4.38%
Uniswap Uniswap (UNI) $10.97 ↓ -0.45%
Polkadot Polkadot (DOT) $3.87 ↓ -4.03%
Cronos Cronos (CRO) $0.17 ↓ -1.68%
Dai Dai (DAI) $1.00 ↑ 0.02%
Ethena Ethena (ENA) $0.77 ↓ -6.31%
Bitget Token Bitget Token (BGB) $4.37 ↓ -1.99%
Pepe Pepe (PEPE) $0.00 ↓ -6.42%
Monero Monero (XMR) $252.83 ↓ -8.40%
Aave Aave (AAVE) $294.78 ↓ -3.43%
Bittensor Bittensor (TAO) $361.88 ↓ -4.86%
Mantle Mantle (MNT) $1.04 ↑ 0.14%
Ethereum Classic Ethereum Classic (ETC) $22.04 ↓ -4.19%
NEAR Protocol NEAR Protocol (NEAR) $2.59 ↓ -5.10%
Ondo Ondo (ONDO) $0.98 ↓ -3.83%
Aptos Aptos (APT) $4.53 ↓ -3.57%
Pi Pi (PI) $0.38 ↓ -6.75%
Internet Computer Internet Computer (ICP) $5.36 ↓ -4.79%
OKB OKB (OKB) $45.81 ↓ -1.38%
POL (prev. MATIC) POL (prev. MATIC) (POL) $0.23 ↓ -3.35%
Kaspa Kaspa (KAS) $0.09 ↓ -5.64%
Arbitrum Arbitrum (ARB) $0.44 ↓ -4.76%
Algorand Algorand (ALGO) $0.25 ↓ -6.86%
Pudgy Penguins Pudgy Penguins (PENGU) $0.03 ↓ -11.99%
World Liberty Financial USD World Liberty Financial USD (USD1) $1.00 ↑ 0.01%
VeChain VeChain (VET) $0.02 ↓ -3.20%
Cosmos Cosmos (ATOM) $4.49 ↓ -2.86%
GateToken GateToken (GT) $16.45 ↓ -1.37%
Bonk Bonk (BONK) $0.00 ↓ -11.77%
Render Render (RENDER) $3.73 ↓ -4.83%
Worldcoin Worldcoin (WLD) $0.98 ↓ -8.27%
Sky Sky (SKY) $0.08 ↓ -4.12%
OFFICIAL TRUMP OFFICIAL TRUMP (TRUMP) $8.77 ↓ -4.10%
Sei Sei (SEI) $0.30 ↓ -4.96%
Filecoin Filecoin (FIL) $2.47 ↓ -4.98%
Story Story (IP) $5.61 ↓ -16.37%
Artificial Superintelligence Alliance Artificial Superintelligence Alliance (FET) $0.69 ↓ -4.40%
SPX6900 SPX6900 (SPX) $1.71 ↓ -8.81%
Flare Flare (FLR) $0.02 ↓ -2.99%
KuCoin Token KuCoin Token (KCS) $11.91 ↑ 0.03%
Jupiter Jupiter (JUP) $0.49 ↓ -4.57%
Four Four (FORM) $3.83 ↓ -1.53%
First Digital USD First Digital USD (FDUSD) $1.00 ↑ 0.05%
XDC Network XDC Network (XDC) $0.09 ↓ -2.32%
Injective Injective (INJ) $13.60 ↓ -4.76%
Lido DAO Lido DAO (LDO) $1.48 ↑ 1.07%
Quant Quant (QNT) $109.70 ↓ -2.57%
Optimism Optimism (OP) $0.75 ↓ -4.97%
Celestia Celestia (TIA) $1.71 ↓ -6.61%
Stacks Stacks (STX) $0.71 ↓ -8.52%
Curve DAO Token Curve DAO Token (CRV) $0.92 ↓ -6.51%
Pump.fun Pump.fun (PUMP) $0.00 ↓ -4.07%
Immutable Immutable (IMX) $0.55 ↓ -5.15%
FLOKI FLOKI (FLOKI) $0.00 ↓ -7.85%
Ethereum Name Service Ethereum Name Service (ENS) $27.79 ↓ -4.10%
PayPal USD PayPal USD (PYUSD) $1.00 ↑ 0.00%
Conflux Conflux (CFX) $0.19 ↓ -5.10%
The Graph The Graph (GRT) $0.09 ↓ -5.82%
Aerodrome Finance Aerodrome Finance (AERO) $1.09 ↓ -8.92%
PAX Gold PAX Gold (PAXG) $3,345.67 ↓ -0.14%
PancakeSwap PancakeSwap (CAKE) $2.71 ↓ -3.33%
dogwifhat dogwifhat (WIF) $0.90 ↓ -8.07%
Pendle Pendle (PENDLE) $5.36 ↑ 0.39%
Kaia Kaia (KAIA) $0.14 ↓ -3.39%
Tezos Tezos (XTZ) $0.83 ↓ -5.74%
Nexo Nexo (NEXO) $1.33 ↓ -0.80%
Sonic Sonic (S) $0.30 ↓ -5.04%
Virtuals Protocol Virtuals Protocol (VIRTUAL) $1.30 ↓ -8.68%
Fartcoin Fartcoin (FARTCOIN) $0.84 ↓ -16.96%
Vaulta Vaulta (A) $0.53 ↓ -1.42%
Theta Network Theta Network (THETA) $0.83 ↓ -4.32%
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Raydium Raydium (RAY) $3.03 ↓ -7.76%
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Home Cryptocurrency

Which Country Owns the Most Bitcoin? El Salvador is Fourth!

Marc Paillard by Marc Paillard
20 September 2024
in Cryptocurrency, News
Reading Time: 1 min read
0
representing the surprising rise of Bhutan in the list of countries holding the most Bitcoin Show the Bitcoin logo prominently with fla

Surprisingly, El Salvador ranks near the bottom in the list of governments holding the most Bitcoin. As of the latest data, Bhutan has emerged as a surprising leader in state-held Bitcoin reserves, with a value of $782.46 million, far surpassing El Salvador’s $351.75 million reserve.

Table of Contents

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  • Bhutan’s Bitcoin Holdings Outpace El Salvador
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  • Clean Energy Powers Bhutan’s Bitcoin Mining

Bhutan’s Bitcoin Holdings Outpace El Salvador

Despite its small population of just 782,000 people, Bhutan holds more than twice the Bitcoin reserves of El Salvador, which has a population of over 6.3 million. This places Bhutan third in the global ranking of state-held Bitcoin assets, behind the United States ($12.16 billion) and the United Kingdom ($3.67 billion).

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Bhutan’s significant Bitcoin reserves can be traced back to April 2019, when BTC was valued at around $5,000. Bhutan’s sovereign investment arm, Druk Holding & Investments, confirmed that the country began mining Bitcoin at that time. Since then, Bhutan has leveraged its vast hydroelectric resources to power large-scale mining operations.

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illustrating Bhutans surprising rise in Bitcoin holdings with a prominent Bitcoin logo and the flags of Bhutan and El Salvador Includ

Clean Energy Powers Bhutan’s Bitcoin Mining

Bhutan’s rivers, fed by Himalayan glaciers, provide an impressive 23,760 MW of technically feasible hydroelectric capacity. Hydropower makes up 30% of Bhutan’s GDP, and by 2003, 99.5% of the country’s electricity was sourced from hydroelectricity. This clean energy infrastructure allows Bhutan to expand its Bitcoin mining activities while maintaining its environmental commitments.

To put Bhutan’s hydroelectric potential in perspective, the country’s total capacity could power over 17 million American homes or more than double the energy needs of a city like New York.

Tags: Bhutan’s Bitcoin reservesDruk Holding & InvestmentsEl Salvador Bitcoinhydroelectric powerstate-held Bitcoin assets
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Marc Paillard

Marc Paillard

Business and Economy Writer Hello there! My name is Marc Paillard and I am a journalist with a passion for economics and cryptocurrency. With over 10 years of experience in the field, I have a keen interest in global economics and how it affects our daily lives. As a daily news writer, I am committed to delivering accurate and timely information to my readers. I believe that staying informed is crucial to making smart decisions, and I work hard to provide my readers with the insights they need to succeed. In addition to my work in general economics, I am also deeply interested in the world of cryptocurrency. I believe that these innovative technologies have the potential to transform the financial industry, and I enjoy exploring the possibilities through my writing.

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