Bhutan's Secret Crypto Investments: A Game-Changing Strategy for Small Nations?

[avikz]

It's already been a couple of months, Bhutan has started doing this. If you see the past trends, you will see multiple small nations have shown interest in cryptocurrency and changed their policies to welcome it. I have been to Bhutan once in my life when I was in school and I candidly remember the country and their hospitality. But the fact is that Bhutan has a very small landmass. So they can't build a huge heavy engineering project which can provide employment to their citizens. So they are trying to invest in such projects which don't need a huge amount of land. That's where cryptocurrency mining fits the bill. Also Bhutan has access to cheap electricity due to the hydropower projects they have in their country.

I would say it's the right move towards a better future. Even though Bhutan has officially moved to democracy, its King is the most influential person. But they just need to stay out of China's influence for long term growth.

[1714506064]

1714506064

[1714506064]

1714506064

[Bureau]

Bhutan is a land lock country that borders both India and China. India provides everything that you can expect to the Kingdom. The news of Bhutan mining Bitcoin using renewable source of energy comes as a shock to me. They don't have the capability nor the technical knowledge of setting up mining grids. This might sound a conspiracy to many here but I believe India is involved here. I may not be able to prove it but without India's help they cannot do anything.

[stompix]

They don't have the capability nor the technical knowledge of setting up mining grids. This might sound a conspiracy to many here but I believe India is involved here.

So what's this secret technical knowledge that's involved in setting a mining farm?

If you have the knowledge of setting up a datacenter then you have the knowledge of setting up a bitcoin mining farm when it comes to technicals.
You don't need the help of a country when you do this on a large scale because if you place a +million orders with Bitmain you can talk to them on expertise in setting things up. Also, no offense, but India has as much expertise in this field as Vanuatu!

Besides, why would be India interested in Bhutan using electricity to mine when instead they could simply force them to sell all that electricity they have nothing to do with cheap to India itself?

But the fact is that Bhutan has a very small landmass. So they can't build a huge heavy engineering project which can provide employment to their citizens.

Bhutan is the size of Switzerland and Taiwan, just as you can build a hundred dams or smelters for whatever you mine you can build everything else.

[boyptc]

i bet there are other nations that secretly stack sats.

That is for sure.

They don't just want to make a noise that they're in and if there's money on it, why waste effort into making noise while making money silently?

While Bitcoin is already on the mainstream, maybe in reality there are still a very few number of countries that still don't know or don't like Bitcoin.

But if they're going to use their resources and secretly mine and accumulate sats then they'll benefit from it. They don't have to invest a lot but if their country is plausible for greener energy and the climate is better, that's a great prospect to start mining with them and have those equipment delivered to them and have it setup so that it can start make money for them.

not only governments but many politicians as well. this is one very good avenue for them to hide their riches, right?
so more then likely a lot of politicians esp those with high percentage of corrupt officials are silently accumulating some of these cryptocurrencies. a lot of them are holding their crypto discreetly to avoid criticisms as well as not disclosing their wealth to the public. you won't tax a person if they don't declare this in their assets.

It's much better if it goes to the actual government rather than individual politicians because with its actual government, the fund will go actually to the government and can be spent into good programs. While if it's with these politicians, they can conduct it individually and that can be a private operations on their own.

While they have the money to buy the equipment and start their own mining operations. No one can even know that they're into it while running it and acting as government official.

Well, it's being considered that politicians are also the government because they're part of it but in some countries, it's known that they can't be trusted with public's fund.

[aioc]

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 is a big surprise in the Crypto community it should have been rich countries like Japan or the middle east but Bhutan, I have to Google where Bhutan is and its economic condition, whoever recommends investing in Bitcoin is a genius and deserves to have a position in the kingdom of Bhutan.

I wish my country is like Bhutan but it was met by negativism, although our country is now more open to adopting Cryptocurrency it's the private companies that push it to get adopted because of the taxes the government will receive.

There could be many more Bhutan-like countries that are not yet discovered, it's a mere incident that they are discovered this is indeed a good move.

[348Judah]

The good thing to write about Bhutan is that as little as the country is, it has never been suspected to have been engaging in bitcoin mining over years until recent discovery, i count it a lesson to others to learn just from this little lesson, how they were able to maintain privacy in bitcoin mining over the years, some people have achieved nothing bit yet too lousy in the public, yet Bhutan moved ahead to establish a renewable energy source for this bitcoin mining, this will also give them the use of the mining rig at maximum because there won't be challenge on electricity demand since they are pleating under natural renewable source.

[Webetcoins]

Well, it could definitely be a game-changing strategy for nations that don't have very strong economies or aren't able to get themselves going in world development only because they lack funds and have already taken a lot of loans and has a lot of debt to pay. Considering they have been buying Bitcoins since it was at its lowest last year, they will have huge profits when the price crosses its previous all-time high.

This is only one nation, and there might be more that are doing the same thing but we are still unaware of it, as the time passes by, nations that are secretly stacking Bitcoins and other cryptocurrencies will start to come out and we might see the real revolution then.

[kryptqnick]

If we learned about it from the bankruptcy filings, it unfortunately means that the investments were stored on centralized platforms (without adhering to the 'not your keys, not your coins' rule), and it didn't go well. In any case, if they have almost $3 billion to invest, it seems they only invested less than 5% of that in cryptos, so it can just be a small experiment. Such a share of investment going into cryptos means some are willing to experiment with it, but aren't willing to actually risk it or prefer it over traditional investments and assets.