Bitcoin Bet Just One Arrow In Bhutan’s Quiver As It Hunts Gross National Happiness: Tiny Kingdom’s Sovereign Wealth Fund Not Deterred By Size – Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest (ARCA:BTC)

Bhutan, the Himalayan kingdom known for its emphasis on Gross National Happiness, is strategically leveraging its abundant hydropower resources to fuel investments in green energy initiatives and Bitcoin BTC/USD mining, according to Ujjwal Deep Dahal, CEO of Druk Holdings and Investments, the nation’s sovereign wealth fund.

What Happened: Despite its modest size, with approximately $3 billion in assets under management compared to giants like Norway’s or Singapore’s Temasek TMSKF, DHI aims for efficiency and targeted growth, the Fortune reported on Sunday.

Dahal, in a recent interview, emphasized that “size does not matter,” highlighting the fund’s focus on strategic investments to diversify Bhutan’s economy and attract foreign capital.

Hydropower forms the cornerstone of Bhutan’s ambitious plans. With 2.5 gigawatts of current capacity and an additional 3 gigawatts under construction, the country intends to become a hub for green energy technologies, including pump storage and hydrogen power. Dahal believes Bhutan’s unique position allows for rapid testing and deployment of these technologies, with the potential for global scaling.

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Why It Matters: In a notable move, Bhutan has emerged as a significant holder of Bitcoin, initiated through mining operations in 2019. Dahal contends that utilizing the nation’s green hydropower for crypto mining offsets carbon emissions associated with traditional mining methods.

Disclosure: 82% of retail CFD accounts lose money

Dahal views Bitcoin as “a parallel to digital gold” and part of a broader strategy for alternative investments. Blockchain analytics platform Arkham estimates Bhutan’s Bitcoin holdings to be worth over $646 million as of April, surpassing even El Salvador’s reserves.

Bhutan is also developing the Gelephu Mindfulness City, a special administrative region designed to be an economic corridor connecting South and Southeast Asia.

This zone aims to attract businesses in sectors like healthcare, technology, and green energy, fostering innovation and startup culture, according to Dahal. The city will also incorporate a strategic reserve of cryptocurrencies, including Bitcoin, Ethereum ETH/USD, and Binance Coin BNB/USD, to bolster economic resilience.

Photo Courtesy: Framalicious On Shutterstock.com

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