Remarkable BBC piece explaining how Bhutan has used Bitcoin mining off hydroelectric power (which it otherwise sells to India for next to nothing) in order to generate a prodigious stack worth 30% of its GDP 🇧🇹
Discussion
*Al Jazeera not BBC :)
This is awesome
Boolin
Hopefully the kind of behavior by governments starts catching on.
Everyone likes compounding investments right?
It would
“Bhutan has not formally disclosed how much it holds in the cryptocurrency.
However, according to blockchain intelligence firm Arkham, Bhutan’s Bitcoin holdings are worth more than $600m as of April 9, making up about 30 percent of the kingdom’s GDP.”
Bhutan should put its Bitcoin stash through Wasabi to give it the choice whether or not to reveal how much ₿ it has.
I’m trying to get Pakistan to realize the same thing
Bitcoin cannot save Bhutan's economy. Bhutan has to open up to foreign investment if they want to improve their economy. Bhutan is also a tiny country surrounded by rock and mountains need lots of money to dig up resources but they are too worried about the environment. Bitcoin is a money system not some sort of miracle to save everyone.
Incredible what happens when a country uses abundant energy to stack hard money instead of exporting it for peanuts.
Turns out sovereignty isn’t just a slogan. it’s a strategy.