Binance CEO Richard Teng: Co-creating happiness with Bhutan! The national Bitcoin reserves have surpassed those of El Salvador.

The cryptocurrency circle (120btc.cOM): The well-known exchange Binance (Binance) CEO Richard Teng recently visited Bhutan (Kingdom of Bhutan). In an interview, he emphasized that the concept of blockchain aligns well with the country’s long-standing principle of “Gross National Happiness” (Gross National Happiness,GNH). Currently, Bhutan is also rolling out multiple blockchain initiatives, including hydro mining, establishing a national Bitcoin reserve, and introducing cryptocurrency payments.

Cryptocurrency Can Promote Happiness and Financial Freedom

The CEO of Binance, Teng, stated during an interview at the “Crypto-Powered Tour” event held in Bhutan that blockchain is essentially in line with the national happiness philosophy emphasized by Bhutan. He said: “Blockchain is about pursuing happiness and financial freedom, not only solving many problems but also helping to enhance personal well-being.”

Teng stated that he has seen many people around the world achieve financial independence through cryptocurrency, especially in areas with scarce financial resources. He believes that if Bhutan also actively embraces innovation, it could achieve the same effect.

Bhutan’s “Gross National Happiness” policy originates from the 1970s

The so-called “Gross National Happiness” ( GNH ) is a national development concept proposed by the fourth king of Bhutan in the 1970s, with the core focus on pursuing collective happiness rather than merely economic growth.

According to local GNH centers, this concept emphasizes the “balance between material and non-material values” and believes that the pursuit of happiness is human nature, thus valuing the balance of body and mind is also a key focus of national governance.

At first glance, the cryptocurrency market seems fast-paced and highly volatile, which appears to contradict the concept of GNH. However, Teng emphasizes that technology itself can enable more people to access resources, thereby enhancing overall societal well-being. He stated, “The King of Bhutan and the people believe in innovation, and they also believe that cryptocurrency can improve people’s welfare and happiness.”

Bhutan Actively Lays Out Mining and Bitcoin Reserves

The government currently led by the King of Bhutan, Jigme Khesar Namgyel Wangchuck(, has actively incorporated cryptocurrency into the national development strategy. Specific measures include:

• Bitcoin mining using hydropower
• Establish a national-level cryptocurrency reserve
• Adopt Binance’s cryptocurrency payment system to increase tourism revenue.

According to Bitbo data, Bhutan currently holds over 13,000 Bitcoins, worth approximately $140 million, making it the 5th largest Bitcoin national reserve in the world, even surpassing El Salvador.

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Promoting crypto payments to attract tourism still needs to overcome the problem of slow infrastructure development

The Bhutanese government also started collaborating with Binance in May this year to introduce cryptocurrency payment services, aiming to attract more coin-holding tourists to this mountainous country and boost tourism. However, due to the unstable local internet connection, this could also become a major obstacle for the cryptocurrency payment service.

Teng stated that if Bhutan, the “Land of Happiness,” can successfully introduce blockchain technology, it will not only attract foreign investment but also have the opportunity to achieve national digital transformation without violating the philosophy of happiness.