The government of Bhutan now holds more than $1 billion in Bitcoin (BTC), fueled by the cryptocurrency’s surge in value this year, according to new data shared by Arkham Intelligence. While the country recently transferred $65 million worth of Bitcoin to Binance, it continues to mine more, following a trend of countries building up national Bitcoin reserves.

Bhutan’s approach reflects a broader trend among national Bitcoin holders. El Salvador, for example, has committed to holding onto its large Bitcoin holdings no matter the price. In the US, Donald Trump has pledged to create a national Bitcoin reserve if elected, fueling interest in the government’s digital asset. These commitments reflect growing confidence in Bitcoin as a sovereign asset.

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