Bhutan looks to cryptocurrencies for rapid growth
Join Our Telegram channel to stay up to date on breaking news coverage Bhutan, a tiny Himalayan country looking to new-age industries for rapid growth and profits, is investing in everything from bitcoin mining to drone technology. After teaming up with Singaporean company Bitdeer, one of the largest bitcoin miners in the world, Druk Holding & Investments, the state-owned commercial holding company, will this month begin pitching to investors to raise as much as $500mn for a crypto mining operation. Bhutan is betting on crypto currencies , following El Salvador and the Central African Republic in doing so. This is despite the sell-offs, contagion, and scandals that have rocked the industry. The secluded nation of 800,000 is renowned for its gross national happiness statistic, which attempts to prioritize wellbeing over economic progress, and only permitted television and the internet in 1999. Bhutan collaborates with Bitdeer of Singapore as it looks to raise money to mi...