Sovereign · September 16, 2024
Arkham on-chain data reveals Bhutan as a top sovereign Bitcoin holder from state mining
Price at event
$58,210
Today
$73,405
Since then
×1.3
Arkham Intelligence publicly tagged wallets showing that Bhutan's sovereign investment arm, Druk Holding & Investments, had accumulated roughly 13,000 BTC (about $780M at the time), making the Himalayan kingdom one of the largest government Bitcoin holders. Unusually, these coins came not from criminal seizures but from years of quiet hydropower-fueled mining, a distinction Bhutan kept rather understated until the blockchain did the talking.
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