Bitcoin Savings of El Salvador and Bhutan Are Going to the Top

The rally recorded by Bitcoin on Monday increased the value of BTCs held by El Salvador to over $ 500 million. The assets of the Kingdom of Bhutan jumped over 1 billion dollars.

Data from El Salvador’s Bitcoin Office shows the country’s bitcoin holdings amount to slightly less than 5,932 tokens. The price, which was $87,000 at press time, increased the value of the assets to approximately $516 million.

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As impressive as Salvadoran President Nayib Bukele’s bitcoin investments are, the Kingdom of Bhutan is no exception.

The South Asian state, which has a population of just 800,000 versus El Salvador’s 6.4 million, has a bitcoin holding of 12,574 tokens worth $1.1 billion at current prices.

In other words, the value of Bhutan’s bitcoin holdings accounts for just under $3 billion, more than a third of the country’s GDP. El Salvador’s $500 million worth of bitcoin corresponds to only 1.5% of its GDP.

Bhutan’s assets have reportedly been accumulated through bitcoin mining as the Himalayan nation has access to abundant hydroelectric power. The country was highlighted as the fourth largest bitcoin holder by Arkham Intelligence in September.

El Salvador’s bitcoin strategy, which bought bitcoin several times during the 2021 bull run, continues to face a persistent dispute with the International Monetary Fund, which has raised concerns about the country’s financial situation, according to Bukele.

But it looks like this situation is improving. The country announced today that it plans to buy back $2.5 billion of its dollar-denominated debt. According to Bloomberg, El Salvador’s debt has decreased by 4.7% since Donald Trump’s election last week.