El Salvador's Bitcoin Stash Rises Above $500M, but Bhutan Story Might Be Even Bigger
Summary
Bitcoin's recent surge increased El Salvador's BTC holdings to over $500 million and Bhutan's to over $1 billion. El Salvador holds nearly 5,932 bitcoins, valued at approximately $516 million, representing 1.5% of its GDP. Bhutan possesses 12,574 bitcoins, worth $1.1 billion, which is over one-third of its GDP. Bhutan's bitcoin accumulation is attributed to its hydroelectric power-driven mining activities. El Salvador adopted a dollar-cost-averaging strategy for bitcoin in November 2022 and plans to repurchase $2.5 billion of its debt, despite IMF concerns about its fiscal policies.
