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While everyone focuses on Saylor and El Salvador, the number 1 Bitcoin degen is actually Bhutan

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by COINS NEWS 5 Views

Here are some facts and statistics about Bhutan I pulled out:

  • Bhutan holds 1/3 of its entire GDP in Bitcoin, 13k Bitcoins in total
  • The 13k Bitcoins is more than 2x El Salvador's holdings, and El Salvador has over 6 million citizens compared to 750k for Bhutan. So "BTC holdings per capita" is close to 20x for Bhutan compared to El Salvador
  • Bhutan started getting into the crypto space in 2019, with BTC mining. This is before the hype phase in 2021.
  • They mine BTC through hydroelectric power (clean energy). Once again ahead of the game and they don't need to spend millions of money/stonks like SaylorMoon or El Salvador. End 2021, they quietly started construction on the largest ever mining site while the buzz was around El Salvador buying BTC.
  • So basically they are using BTC as a true "revenue stream" where a large part of their holdings are truly in BTC. You can think of Bhutan as your typical crypto degen, but instead as a crypto bro it is a country version of it.

Why do y'all think despite all these great use cases and being the first country ever to truly hold an enormous % of their GDP in Bitcoin, Bhutan does not have the attention?

One article (from September, so note that the BTC amount in $ has doubled now): https://www.forbes.com/sites/digital-assets/2024/09/17/how-bhutan-quietly-built-750-million-in-bitcoin-holdings/

submitted by /u/Every_Hunt_160
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