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Bhutan's Bitcoin Ambition: From Mountain Kingdom to Digital Financial Hub
Following El Salvador, another country has adopted Bitcoin as national policy. This time it's Bhutan, a small country in the Himalayas with a GDP of just over 4 billion USD, which has accumulated 13,000 BTC, equivalent to 30% of its GDP.
What's even more amazing is that all these coins are mined using 100% hydropower. Bhutan is the only country in the world with negative carbon emissions, and it can also mine, which is quite remarkable.
Why is Bhutan All in BTC?
The King of Bhutan, Jigme Khesar Namgyel Wangchuck (only 44 years old, has been in power for 16 years), discovered Bitcoin in 2011 and started mining in 2019. His logic is very clear:
• Energy Monetization: Cheap hydropower is Bhutan's largest export commodity, sold to India; it can now be used for mining to generate foreign exchange. • Hard Currency Acquisition: Bhutan heavily relies on India, facing a shortage of USD; BTC can be directly exchanged for USD and EUR. • Skill Accumulation: Mining has cultivated local IT talent and has expanded into blockchain identity verification (20% of the population has used it) • Strategic Independence: Although still relying on India, BTC has given Bhutan more economic clout.
The Real Dilemma
This is not a magic pill. Bhutan still has serious problems:
What's the next step?
The king is promoting the “Grapefruit Book Meditation City” in southern Bhutan - a city project that integrates technology, entrepreneurship, and meditation to attract foreign investment and talent. Bitcoin is just a part of this grand plan.
Data Highlights
Bhutanese people indirectly hold 0.02 BTC per capita (equivalent to 8 months of average salary at current prices). If BTC doubles in the next bull market, this reserve could exceed Bhutan's entire national debt.
The king's own attitude is clear: “Hodl, hodl, hodl”—they are waiting for the value to explode.
From the Kingdom of Bhutan to a major player in digital assets, Bhutan is changing its game with a unique combination (clean energy + BTC + talent development). The next cycle will tell.