Bitcoin and industry pioneers have met with the Prime Minister of Montenegro to discuss how the country can benefit from Bitcoin mining. The nation mulled over the idea of a Bitcoin hydro bond powered by its abundance of rivers and renewable resources.
Montenegro Prime Minister Milojko Spajić has met with JAN3 executives Samson Mow, Serbia’s Prince Filip Karađorđević, and Ben Van Hool to discuss Bitcoin opportunities.
Bitcoin Hydro Bonds
Prime Minister Spajić’s financial background makes him perfect for unlocking the country’s hydropower potential, noted JAN3 on December 14.
JAN3 is a Bitcoin technology company focused on expanding access to BTC and financial freedom around the world.
They discussed the potential for Bitcoin bonds linked to hydroelectric power to fund BTC mining. Additionally, these would be fueled by Montenegro’s abundant rivers and hydro potential.
Montenegro Bitcoin meeting. Source: X/@JAN3com
Prime Minister Spajić highlighted this liquid abundance, emphasizing a hydroelectric potential estimated at 5.6 to 6.1 TWh (terawatt hours) annually.
However, Montenegro currently utilizes less than 20% of this potential. Furthermore, in a blog post regarding the meeting, JAN3 stated:
“The idea of issuing Hydro Bonds linked to Bitcoin mining showcased the innovative thinking that could unlock new avenues for economic growth.”
Mow held a poll on December 15 asking which of four countries would be the first to issue Bitcoin hydro bonds. It was no surprise that Montenegro came out top.
They also discussed crypto regulation frameworks and the possibility of the central bank holding Bitcoin.
JAN3 concluded that with Montenegro boasting the distinction of having the third youngest serving state leader in the world,
“The nation sends a clear message – it is open for business, and it is open to embracing the transformative possibilities that Bitcoin presents.”
Moreover, Montenegro has only been in the crypto news recently due to the Do Kwon scandal, but it recently agreed to extradite him.
El Salvador Volcano Bonds Erupt
The inspiration for Bitcoin hydro bonds stems from El Salvador’s volcano bonds, which Samson Mow and partners helped establish.
Additionally, after delays, El Salvador’s Bitcoin volcano bonds are set to launch in early 2024, as reported by BeInCrypto.
They were given the regulatory green light on December 12 as President Nayib Bukele’s big BTC investment heads back into profit.
Renewable energy-based Bitcoin bonds could be the next big sustainable investment machine. Moreover, Montenegro could be the next country to start issuing them.
