THE kingdom of bhutan has just revealed a very ambitious financial plan of half a billion dollars, so that this small landlocked country in the middle of the Himalayas becomes a leading nation in the mining of Bitcoin. The queen of cryptocurrencies has, in fact, been identified by local authorities as the ideal candidate to bring growth and development to the country.
Bitcoin on top of the world?
No one will blame you if you have trouble positioning the Bhutan on the globe, modest rocky confetti stuck between India and China, in the heart of the Himalayan range.
On the other hand, it will henceforth be unforgivable not to carefully follow the bitcoin sector development on the spot, as this nation of 800,000 souls seems to have decided to become one of its leaders.
It is, in fact, through a press release that we learn that the Druk Holding & Investments of Bhutan (in other words, the national investment bank), decided to bring together investors for a fund with a maximum value of $500 milliondedicated to green bitcoin mining in the kingdom.
The reason is simple, Bitcoin has been identified as the best possible vector for growth:
” It’s important for us to look at low volume, high value assets, or digital assets, and try to position ourselves so that we can be globally competitive over time to build our economy »
jjwal Deep Dahal, Managing Director of Druk Holding & Investments
Bhutan will be assisted in this endeavor by the Nasdaq-listed company Bitdeer Technologies Group
>> Safety is the basis! To keep your cryptos close to you, trust Ledger (commercial link) <<
Happy as a green bitcoiner in Bhutan
In a separate press release, bitdeer said that the objective of the partnership was to launch bitcoin mining operations, using hydroelectric energy “ 100% carbon free “.
Bitdeer and DHI plan to establish a closed-end fund with the aim of raising up to $500 million “from the international community,” according to the statement.
This fund could be activated as early as the end of May, with an operation of 100 megawatts of power, the construction of which should begin in the second quarter of 2023 and be completed between July and September. It thus seems that in the Himalayas too, one anticipates the upcoming Bitcoin halving.
Since you now know where Bhutan is located, you will probably be happy to know that the country uses an indicator of Gross National Happinessor BNB (no, not this BNB here), based on 4 factors:
- responsible economic growth and development;
- conservation and promotion of Bhutanese culture;
- safeguarding the environment and promoting sustainable development;
- responsible good governance
Ironically, and with all due respect to some despisers, it would seem that Bitcoin is able to tick all the boxes of this indicator, which is as original as it is relevant, to varying degrees.
Whether you are in Nanterre or in the Himalayas, to keep your cryptos, nothing beats a Ledger wallet. The Nano S and Nano X provide security and ease of use. Indeed, they are compatible with the vast majority of cryptos and networks. They are an absolutely essential alternative to all exchanges that offer to hold your assets for you. Remember, “Not your keys, not your coins” (commercial link)!