There have been some major upheavals in the crypto ecosystem. While some countries are making efforts to ban it, others are accepting it wholeheartedly. Bhutan falls under the latter category. Bhutan is reframing its regulatory landscape to make it more conducive to mining.
Bhutan is a peaceful state tucked in the Himalayas. It ranks quite high in the happiness index. However, unemployment is a real problem in Bhutan. As a result, the government of Bhutan resorted to exploring BTC mining operations to combat anxiety.
Bhutan is known to prioritise human happiness over everything else. Therefore, investing in a high-risk sector like crypto is a bit of a far cry. However, learning more about Bhutan will make sense of the decision.
Bhutan: The Next Big Name In The Crypto Landscape
Bhutan is sitting on a secret weapon that makes it perfect for mining operations. Bhutan has abundant hydropower. Bhutan is primarily powered by hydropower. This has made it perfect for mining crypto. The low population count, allong with abundant hydropower has allowed it to use its surplus as means to mine crypto.
The decision is well-received by the government due to its practicality. President Tshering Tobgay has released a statement saying, “t’s just a strategic choice…governments should do it.” Fortunately, the strategic decision paid off and Bhutan has managed to sell close to $100 million worth of BTC.
While the promise of this approach has some immense appeal. However, skeptics believe that market volatility could affect the overall essence of the atmosphere. Therefore, it is too soon to predict what the future holds.
This move can have immense effect on the nation’s economy. Therefore, Bhutan is the perfect model to study hope national adoption of crypto could function.
