Alex
@alinv
▫️Bhutan holds around $1.3 billion in Bitcoin, which is almost 40% of the country's GDP (1). According to Arkham, this puts the small kingdom with a population of less than 800,000 in third place in the world in terms of its own Bitcoin reserves. Unlike countries like the UK or the US, where the cryptocurrency ended up in the treasury as a result of seizures from criminals, Bhutan has accumulated its assets exclusively through mining. According to the latest information, the kingdom has over 12,060 #BTC at its disposal, mined using hydropower. This industry remains one of the few areas that can stimulate economic growth in Bhutan without violating the principles of national policy on nature conservation and a strict ban on environmentally harmful industries.
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Alex
@alinv
In April, the Prime Minister said that the state would sell around $100 million worth of bitcoin in 2023. The proceeds would go toward increasing civil servants’ salaries to discourage young professionals from leaving the country. However, the government has not disclosed the exact locations of its mining farms or the details of the capacity controlled by Green Digital. In my view, Bhutan’s role in the crypto industry shows that even small states can become important players by integrating renewable energy and new financial instruments. The kingdom’s approach could breathe new life into government digital asset management strategies by offering an alternative to traditional gold and foreign exchange reserves and stimulating institutional adoption of cryptocurrencies. Ultimately, Bhutan’s example could become a catalyst for the development of hybrid models of state participation that incorporate emerging financial technologies, increasing economic resilience and investor confidence.
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