Bhutan's $1B Bitcoin Reserves Fund Salaries, Boost Economy with Hydropower Mining

Bhutan's Prime Minister Tshering Tobgay has disclosed that the country's Bitcoin reserves have been instrumental in financing national expenses, including salaries for public servants, healthcare, and environmental projects. This initiative comes as Bhutan faces a decline in tourism revenue.

The reserves are supported by the use of 100% clean hydroelectric power to mine Bitcoin, with the nation reportedly holding over $1 billion worth of the cryptocurrency. The Prime Minister highlighted that hundreds of individuals have profited significantly from Bitcoin, questioning why governments are not adopting similar strategies.

In his first public remarks on the strategy, the Prime Minister emphasized that the world is progressively moving towards using Bitcoin as a currency and urged other nations to consider its potential for economic resilience.

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