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Bhutan Bitcoin Holdings

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Bhutan Bitcoin Holdings is the sovereign BTC reserve of Bhutan's Royal Government, managed by state investment arm Druk Holding and Investments. The reserve is 100% Bitcoin, self-generated through hydroelectric-powered mining since 2019, not bought or seized. On-chain data tracked by Arkham shows holdings down ~70% from an October 2024 peak, as Bhutan funds the Gelephu Mindfulness City project.