30s Summary

El Salvador’s Bitcoin reserves are valued at over $500 million, which amounts to 1.5% of its GDP. In comparison, Bhutan’s Bitcoin stash is worth more than $1 billion, over a third of its GDP. El Salvador started buying Bitcoin in 2021 and plans to buy back $2.5 billion of its dollar-based debt. Bhutan, a country with plentiful hydroelectric power, used it to mine Bitcoin. Despite the International Monetary Fund’s concerns about El Salvador’s Bitcoin strategy affecting the nation’s fiscal health, the country’s financial situation is improving.

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El Salvador’s Bitcoin stash is worth over $500 million, while Bhutan’s has hit the $1 billion mark. This growth sets Bhutan’s BTC holdings at over one-third of its GDP. Comparatively, El Salvador’s Bitcoin pile comes to just 1.5% of its GDP. As for the fiscal situation of El Salvador’s government, things are looking up.

The number game caught your attention, right? El Salvador has almost 5,932 tokens, worth near about $516 million as per the $87,000 price tag at the time of writing. Despite El Salvador President Nayib Bukele’s attractive Bitcoin venture, Bhutan’s story seems even more impressive.

Bhutan, an Asian country with a population of just 800,000, owns a Bitcoin pile of 12,574 tokens. That’s $1.1 billion at the going price. So, in case you were wondering, Bhutan’s Bitcoin holdings are over one third of the country’s GDP which is below $3 billion. El Salvador’s $500 million in Bitcoin is just 1.5% of its GDP.

Now, where did Bhutan get such a huge Bitcoin stack from? This Himalayan country has an abundance of hydroelectric power which has facilitated Bitcoin mining. Last September, Bhutan was likely the fourth-largest Bitcoin holder among nation-states by Arkham’s report.

El Salvador jumped into the Bitcoin game during the 2021 bull rush and began buying the top cryptocurrency regularly from November 2022. By December 2023, the country had profitable Bitcoin holdings. However, this Bitcoin strategy of El Salvador didn’t sit well with the International Monetary Fund as it raised concerns about the nation’s fiscal health.

But, good news is in sight for El Salvador as its fiscal state is on the upswing. The nation plans to buy back $2.5 billion of its dollar-denominated debt. Following Donald Trump’s victory, El Salvador’s debt has given back 4.7%, cites Bloomberg.