Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»BLOCKCHAIN NEWS»Bhutan’s path to economic independence is Bitcoin mining
BLOCKCHAIN NEWS

Bhutan’s path to economic independence is Bitcoin mining

By Crypto FlexsOctober 8, 20244 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Bhutan’s path to economic independence is Bitcoin mining
Share
Facebook Twitter LinkedIn Pinterest Email

Disclosure: The views and opinions expressed herein are solely those of the author and do not represent the views and opinions of crypto.news editorial.

Now it’s time to learn Dzongkha. It is the language of Bhutan, a South Asian country on the eastern edge of the Himalayas that is one of two countries currently confirmed to mine Bitcoin (BTC) (the other is El Salvador).

Bhutan’s fateful decision to build a world-class hydroelectric power production infrastructure to tap into one of the world’s largest water reserves and take advantage of the country’s dramatic change in attitude towards creating fast-flowing rivers and making Bhutan a pristine natural environment. I’ve made a decision. A haven for hydroelectric power.

With so much power available, much of which is being sent to neighboring, energy-poor India, the country decided to start building Bitcoin mines with the official goal of ensuring the country’s economic self-reliance and socio-economic development.

In fact, Bhutan leverages its hydroelectric infrastructure to mine Bitcoin, ensuring self-reliance and socio-economic development. We can further ensure this by being the first country on earth to adopt the Bitcoin standard.

Bitcoin Mining Now Creates New Currency Possibilities

Bhutan currently holds over 13,000 BTC, according to Arkham Intelligence, which was the first to identify Bitcoin addresses in Bhutan.

These holdings make Bhutan the fourth-largest government holding of Bitcoin in the world, after the United States, China, and the United Kingdom, which have all confiscated BTC during law enforcement operations. In fact, Bhutan is ahead of El Salvador. And from 2023, Bhutan has only increased its Bitcoin mining capacity.

From the tropical southern plains to the harsh winters and cool summers of the northern Himalayas, Bhutan has a population of one million. So, as of this writing, the country’s Bitcoin reserves are equivalent to approximately 0.122 BTC, or nearly $8,000 per capita.

As Bhutan’s Bitcoin holdings and mining infrastructure gain domestic and geopolitical relevance amid the devaluation of fiat currencies around the world, Bhutan will be best positioned to innovate in the areas of monetary policy and Bitcoin. no see.

On a Bitcoin basis, Bhutan can maintain its currency unit, the Ngultrum. This is consistent with countries maintaining their currencies pegged to gold under the gold standard of the 19th and early 20th centuries.

Therefore, Bhutan’s currency circulates alongside Bitcoin and is simultaneously pegged to Bitcoin. This means that the notes can be redeemed for BTC. Since the currency is not fully backed by Bitcoin, it remains in trust.

Under the gold standard, central banks backed issued paper money partially with gold. Bhutan’s monetary authorities will probably define the amount of Bitcoin to be pegged to the currency unit.

However, under Bitcoin standards, there will be sacrifices on the part of the state. If it adopts the Bitcoin standard, Bhutan would not be able to implement interest rate policies that would change the country’s economic situation without lifting the peg to Bitcoin. This is something every country can eventually be tempted to do.

Times are changing in Bhutan.

Bhutan did not have electricity until 1966. In comparison, Britain opened its first hydroelectric power plant in 1878, and the United States opened its first power plant in 1882. Currently, Bhutan proves this despite being 133rd in land area and 160th in population. He himself is a leader of the 21st century.

The country’s investments in hydroelectric power have already boosted economic growth. Bhutan’s decision to tap its water resources for electricity production and use some of that electricity for Bitcoin mining could significantly change the landlocked country’s economic outlook through the accumulation of Bitcoin alone.

By backing Ngultrum with Bitcoin, Bhutan will shock the known world by advancing the Bitcoin standard just as the world was on the classical gold standard. Bhutan could write standard Bitcoin “rules of the game” to follow as countries adopt a better lifestyle than central bank fiat currencies.

If Bhutan adopts the Bitcoin standard, it could one day serve as a lender of last resort for countries and institutions facing serious crises. As Warren E. Weber of the Bank of Canada argued in a 2015 thought experiment, under Bitcoin standards Bhutan could expect “mild deflation, low nominal interest rates, and good output growth under Bitcoin standards.”

Cardan Stadelman

Cardan Stadelman He is a blockchain developer and operational security expert. of the Komodo platform Chief Technology Officer. His experience ranges from working in operational security in the government sector and launching technology startups to application development and cryptography. Kadan started his journey in blockchain technology in 2011 and joined the Komodo team in 2016.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

The Foresight Ventures report shows a collection shift where more than 32,000 sellers around the world accept encryption.

June 7, 2025

Encryption leverage: 2025 trend and change analysis

June 6, 2025

Bitcoin protection zones, Stablecoin regulations are the main drivers.

June 5, 2025
Add A Comment

Comments are closed.

Recent Posts

TEZOS promotes scaling efforts by activating data soluble layers.

June 7, 2025

It shows a graphite network. Tesla is nothing without trust because Tesla’s Tesla spent $ 150 billion after Musk and Trump’s fallout.

June 7, 2025

The merchant warns that Bitcoin is in ‘cancer price behavior’.

June 7, 2025

Is Bitcoin Price Rally $ 150K by the end of the year?

June 7, 2025

How does it affect Bitcoin?

June 7, 2025

Gala Games introduces a step -by -step approach to founder node staking.

June 7, 2025

AB starts in binance

June 7, 2025

ETF publisher’s latest warning -SEC’s approval process ‘Innovation, AIDS GIANTS’

June 7, 2025

Solana (SOL) introduces Alpenglow for faster blockchain agreement.

June 7, 2025

The Foresight Ventures report shows a collection shift where more than 32,000 sellers around the world accept encryption.

June 7, 2025

$ AB is live on Binance, guiding the new era of new cross chain asset mobility.

June 7, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

TEZOS promotes scaling efforts by activating data soluble layers.

June 7, 2025

It shows a graphite network. Tesla is nothing without trust because Tesla’s Tesla spent $ 150 billion after Musk and Trump’s fallout.

June 7, 2025

The merchant warns that Bitcoin is in ‘cancer price behavior’.

June 7, 2025
Most Popular

Binance Research Reports Cryptocurrency Market Growth of 37.3% in the First Half of 2024

July 17, 2024

IOTA awarded $2.36 million in grants to 20 blockchain projects.

June 11, 2024

AI tokens are set to merge. Here’s how it works:

April 17, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.