Topic: Bhutan's Secret Crypto Investments: A Game-Changing Strategy for Small Nations? - page 2. (Read 220 times)

What the Bhutanese government is doing now could have a positive impact on their financial condition in the future. They diversify their investments in Bitcoin, Ethereum, and several other cryptos which is very good for a small country like them and that has been proven by El Salvador where after the adoption of Bitcoin the economy of their country has improved quite a bit. Especially here, the Bhutanese government is carrying out mining projects using renewable energy and of course that will be very good in the future. Hopefully other small countries can follow Bhutan's steps because Bitcoin and Altcoins are one of the steps for global economic equality.

It's great that small nations are preferring latest technology and investing fairly early init to be the early one's so they can have massive profits once the big nations start investing.
Good job from Bhutan, they should just make it their official currency as well to improve tourism just as El Salvador did.

Why do just 1:1 copy paste an article here? I thought the tldr was at least created by you, but it's also part of the article.
Here is the original source from forbes: https://www.forbes.com/sites/iainmartin/2023/04/15/the-tiny-kingdom-of-bhutan-secretly-held-millions-of-dollars-in-cryptocurrency/?sh=354c6e87f1d6

Not too suprised by the content of the article though. Even for a tiny state such aus Bhutan, "millions of USD" isn't really much.
And sure, most states have different sorts of reserves, including gold and some natural resources, seems just like the logic next step to include solid crypto, meaning Bitcoin, too.

I've just read today on Twitter about Bhutan mining on hydro power.
At first I was surprised. But then... indeed, Bitcoin is easy money. Some governments understand that and use it in their (and their nations') favor, most of the others... keep following the agende of their sponsors.

I'm not sure that this is specific to small nations, though in the case of small nations the influence of big banking system may not be that strong.. and that helps...

I'm not one to dodge a daring move. I mean, I legit tried to make a pizza in a toaster once. But throwin' millions into cryptos? That's some major cojones. But you know the drill: fortune digs the audacious. And if Bhutan's secret crypto game pays off, they could be the pioneers of a new cash frontier.

This raises the question: what other secrets is Bhutan stashin'? A hidden underground pad with gold and priceless goodies? Or maybe they're secretly building a robot army for world domination? Time will spill the beans. Meanwhile, let's follow Bhutan's lead and jump into the crypto scene. Who knows, we might just score as the next Bitcoin big shots.

Druk Holding and Investments confirmed that Bhutan is mining Bitcoin and has also shown interest in mining Ethereum. They note that this is a purposeful policy for the economic development of the kingdom. And taking into account the fact that almost 100% of the country's energy is represented by renewable energy sources, this is also completely green mining, which makes this direction even more profitable for them. And as they say, they were not engaged in trading, and only from the sale of mined bitcoins pay off all the costs of mining. In general, one can only rejoice for Bhutan!

i bet there are other nations that secretly stack sats.

Source of this article: https://www.jbgsmining.com/en/post/bhutan-s-secret-crypto-investments-a-game-changing-strategy-for-small-nations

The Himalayan kingdom of Bhutan, known for its Gross National Happiness Index and largely agriculture-based economy, has been secretly investing millions of dollars in cryptocurrencies like Bitcoin and Ethereum. The investments were revealed through the bankruptcy filings of crypto lenders BlockFi and Celsius. This revelation raises questions about the reclusive nation's relationship to the turbulent crypto economy and could indicate a game-changing strategy for smaller nations seeking to gain an edge in the financial world.

According to court documents, Bhutan's $2.9 billion sovereign investment arm, Druk Holding & Investments, was a customer of BlockFi and Celsius, which it never publicly disclosed. In recent months, Druk withdrew over $65 million and deposited nearly $18 million in digital assets through Celsius. While the source and purpose of these funds remain unknown, these investments seem like a curious move for a holding company focused on promoting domestic ventures.

This secretive crypto investment could indicate a game-changing strategy for smaller nations. It seems to follow a game theoretical point of view where smaller nations and companies are the first to adopt cryptocurrencies, eventually leading to larger nations and corporations following suit. If Druk is indeed a sovereign wealth fund, it would be the first to directly own cryptocurrency, setting a precedent for other nations to follow.

The kingdom of Bhutan has shown interest in the crypto world, hosting a panel of blockchain advocates in 2020 and working with Ripple to pilot a central bank digital currency in 2021. These partnerships suggest that the nation sees potential benefits in embracing the world of cryptocurrencies and blockchain technology.

Bhutan's undisclosed investments in cryptocurrencies could represent a new financial strategy for small nations looking to compete in the global economy. By embracing cryptocurrencies and blockchain technology, Bhutan is following a game theoretical approach, where smaller nations and companies adopt new technologies before larger ones. As more countries and institutions recognize the potential benefits of cryptocurrencies, the trend could ultimately lead to widespread adoption and significant changes to the global financial landscape.



TL;DR:

Bhutan has been secretly investing millions of dollars in cryptocurrencies like Bitcoin and Ethereum, revealed through the bankruptcy filings of BlockFi and Celsius.

These investments could indicate a game-changing strategy for small nations, following a game theoretical point where smaller nations and companies adopt cryptocurrencies before larger ones.

Bhutan has shown interest in the crypto world, partnering with Ripple for a central bank digital currency pilot program and hosting blockchain advocates in 2020.

This trend could ultimately lead to widespread adoption of cryptocurrencies and significant changes to the global financial landscape.