https://www.youtube.com/watch?v=D_IlRvgGnNY
With over 1,000 vendors now accepting crypto payments, Bhutan is wagering on rapid adoption luring tech-savvy travellers and fuelling growth
Today, Bhutan ranks fifth in the world for government-held bitcoin reserves – sixth when factoring in North Korea’s crypto stash, which is largely the result of theft and cyberattacks. According to data-sharing platform Arkham Intelligence, the Himalayan kingdom’s holdings are valued at around US$1.28 billion.
The impact of its crypto gamble is already evident. In 2023, Bhutan sold US$100 million worth of bitcoin to fund a 50 per cent salary increase for civil servants – a dramatic gesture intended to stem the exodus of government workers. The result was immediate: resignations in the first quarter of 2024 reportedly fell to just over 500, compared to nearly 1,900 in the same period the previous year.
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