In 1988, when the Internet Assigned Numbers Authority (IANA) began managing top-level domains, rather than getting into the messy business of deciding what is and what is not a country, it simply pulled the list from ISO 3166-1 alpha-2 and assigned a country-level TLD to all the entries. In this way Bouvet Island ended up with .bv domain in August 1997.
Bouvet Island is a part of Norway but enjoys a similar geopolitical status, and thus has its own country code—BV.
In 2012, Norid, the Norwegian registrar that manages the .bv domain, toyed with the idea of releasing the domain in the Dutch market, where BV is the common abbreviation used to mean “limited company” just like “Ltd” in used in English-speaking country. Many Dutch businesses, it was thought, would love to own a vanity domain that ended in .bv. But the Norwegian Communications Authority vetoed the idea.
Now you know.