During his visit to Bhutan, Binance CEO Richard Teng discussed how cryptocurrency aligns with the country's unique happiness philosophy.
Cryptocurrency and GNH Philosophy of Bhutan
At a media roundtable during the Binance Crypto-Powered Tour in Bhutan, Teng noted that the values of cryptocurrency align with Bhutan’s GNH model. 'Fundamentally, it’s the same,' Teng said, emphasizing that cryptocurrency brings financial freedom and inclusion, ultimately enhancing individual well-being.
Bhutan's Progress in Cryptocurrency
The Bhutanese government under King Jigme Khesar Namgyel Wangchuck has embraced digital assets as part of its development strategy. The country has undertaken projects for hydro-powered Bitcoin mining and established a crypto reserve, currently holding over 13,000 BTC, making it the fifth-largest Bitcoin holder globally.
Future of Cryptocurrency in Bhutan
Bhutan has also adopted crypto payments via Binance to attract crypto holders in tourism. However, the country faces challenges such as unstable internet connectivity, which may impact local crypto adoption.
Richard Teng's visit highlights the potential connection between cryptocurrency and Bhutan's happiness philosophy, paving the way for new opportunities in the country's development.
