Bhutan PM Says Bitcoin Mining ‘Simple Strategic Choice’ For Governments, Himalayan Kingdom Uses Crypto To Reduce Brain-Drain From Civil Services
Bhutan’s prime minister backed government involvement in Bitcoin (CRYPTO: BTC) mining, stating that it could be a strategic decision with potential billion-dollar returns, according to a media report on Monday.
What Happened: During an interview with Al Jazeera, Tshering Tobgay revealed that the utilization of the country’s excess hydropower energy during the summer months for Bitcoin mining made “tremendous sense.”
“It’s just a simple strategic choice that many people have made and earned billions of dollars, and I think governments should do it,” Tobgay added, emphasizing the potential of Bitcoin as an economic resource.
Citing analysts, the report noted that Bitcoin mining was one of the few industries that could allow Bhutan to grow its economy while aligning with …
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