The Kingdom of Bhutan has entered the top three countries with the largest state Bitcoin reserves, reaching an impressive $1.3 billion – nearly 40% of the country’s GDP.
What’s particularly interesting is that Bhutan did not acquire bitcoins through open market purchases or confiscations. Instead, since 2020, the country has been secretly building mining farms powered by its abundant surplus hydroelectric energy. This approach allowed Bhutan to efficiently utilize natural resources while simultaneously building a significant cryptocurrency reserve.
The revenue from Bitcoin’s price growth has been directed towards increasing government employees’ salaries and strengthening state reserves. This project is part of a broader strategy to integrate cryptocurrency into the country’s economy and develop its tourism sector.
Bhutan has set an example of how a small country can effectively leverage modern technology and natural resources to ensure financial stability and attract global attention. This move also highlights the growing role of cryptocurrencies in the global economy, especially for countries with limited traditional resources.
Thus, Bhutan demonstrates that cryptocurrency mining is not just a way to earn money but also a tool for economic development and diversification of national reserves.
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