El Salvador and Bhutan are seeing substantial gains in their Bitcoin investments as the cryptocurrency market rallies. On November 12, Bitcoin soared to a new high of $89,700, nearing a $2 trillion market cap. This price surge has bolstered the value of both countries’ BTC holdings, bringing significant increases in their national crypto assets.
El Salvador’s BTC Value Climbs by $100 Million in a Week
Seven-day chart of El Salvador Government’s Bitcoin Holdings. Source: Arkham Intelligence
El Salvador, which adopted Bitcoin as legal tender in 2021, has benefited remarkably from the latest market surge. Data from Arkham Intelligence reveals that the country’s BTC holdings rose from $402 million on November 5 to $523 million just a week later—a gain of over $100 million. El Salvador initially bought 200 BTC and has steadily expanded its holdings to approximately 5,900 BTC.
Bhutan’s Bitcoin Holdings Exceed $1 Billion
In the kingdom of Bhutan, Bitcoin has been quietly accumulating since 2019. Druk Holding and Investments (DHI), Bhutan’s state-run investment firm, has amassed roughly 12,568 BTC, which Arkham Intelligence now values at over $1.03 billion. Bhutan also holds smaller quantities of Ether and other crypto tokens, marking a diverse investment approach.
Crypto portfolio of the Royal Government of Bhutan. Source: Arkham Intelligence
As Bitcoin’s price climbed to $71,000 in October, Bhutan moved around $66 million worth of BTC in two transactions to Binance, suggesting the kingdom may be ready to capitalise on its gains. Bhutan’s long-term Bitcoin mining strategy, which began when BTC was valued at just $5,000, has paid off, positioning the kingdom among the world’s most valuable state crypto investors.
Future Implications for National Crypto Holdings
With Bitcoin’s value surging, El Salvador and Bhutan are emerging as crypto-forward nations. Their recent gains underscore the transformative potential of national Bitcoin investments, particularly as markets anticipate further volatility and growth in digital assets.
