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Bhutan puts $539M Into Bitcoin mining – What’s this mean?

Bhutan puts $539M Into Bitcoin mining - What's this mean?

Hi everyone,

So Bhutan has put a big chunk of its money, $539 million, into mining Bitcoin from July 2021 to June 2023. They want to sell what they mine to build up their money reserves. This is a lot cause their GDP is even less than $3 billion. They’re using their good, cheap electricity and cool weather, and even their central bank is all for it.

I’m wondering:

What’s good or bad about a small country like Bhutan going big into Bitcoin mining? What does it mean when a country uses its own money and government support to get into Bitcoin mining?

Keen to hear what you guys think!

submitted by /u/Miserable_Algae_6505 [comments]

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