How Bhutan’s PM Thinks Bitcoin Might Just Save the Day!

As Bhutan endures the vexations of youth migration and economic tribulations, its esteemed Prime Minister, Tshering Tobgay, has proclaimed with newfound zeal that the noble pursuit of Bitcoin mining presents a most agreeable avenue for progress, urging others to join in this audacious venture.

Ah, Bhutan! A resplendent Buddhist haven nestled upon the eastern fringes of the Himalayas, replete with monasteries that enchant the senses, is now setting its sights upon Bitcoin (BTC) as a most gallant remedy for its fiscal predicaments—despite the harrowing perils that accompany the capricious nature of cryptocurrency valuations. Pray, who knew? 💰

In a most enlightening dialogue with Al Jazeera, our Prime Minister ventured to describe state-supported Bitcoin mining as “a simple strategic choice that many enterprising souls have embraced, amassing fortunes in the billions.” He further espoused that “governments ought to engage in this crypto mining frolic!” Truly, who could argue with such sagacity? 🎩

Yet, one must ponder the economic malaise that Bhutan currently faces: high youth unemployment and the unfortunate exodus of skilled workers. Reports indicate that in the year of our Lord 2022, a staggering 10% of the educated populace departed for foreign shores. Some optimists contend that Bitcoin may play a role in reversing this trend, especially as the government is purportedly engaged in the highly dubious task of selling $100 million’s worth of cryptocurrency to lavishly augment civil servant salaries in 2024. How splendid for their coffers! 👔

Alas, the precise quantum of Bhutan’s BTC assets remains shrouded in mystery; however, estimations from various blockchain oracle firms suggest it could be valued at more than $600 million—an amount equivalent to a prodigious 30% of the nation’s GDP. One must marvel at such fiscal audacity!

Bitcoin mining, of course, demands a prodigious quantity of energy; yet, Bhutan may indeed defy convention, possessing an abundance of hydropower and refreshingly cool climes. Ujwal Deep Dahal, the astute leader of Druk Holdings, wisely noted, “It is paramount for Bhutan to exploit our green energy in the lucrative endeavor of Bitcoin mining as a staple of our investment portfolio.” Quite the clever gambit, I must say! 🌿

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2025-04-15 14:26