Bitcoin, Ethereum and BNB are now strategic reserve assets in Bhutan

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Bitcoin, Ethereum, and BNB Now Strategic Reserve Assets in Bhutan
Bitcoin, Ethereum, and BNB Now Strategic Reserve Assets in Bhutan
January 8, 2025


Bhutan and Bitcoin

Bhutan’s Gelephu Mindfulness City (GMC) has taken a bold step towards using Bitcoin, Ethereum, and BNB.
The growing adoption of cryptocurrencies, especially Bitcoin, is shaping up to be one of the main crypto narratives for 2025. Recent announcements from Bhutan have led some to believe that the dominoes have begun to fall.
Bitcoin, Ethereum, and BNB are now recognized in Bhutan
Bitcoin, Ethereum, and BNB are now strategic reserve assets in Bhutan. Specifically, these crypto assets are now the reserve assets of the City of Galef, a special zone designed to foster innovation and economic development.
In a press release on January 8, 2025, GMC disclosed that it expects that consolidating these crypto assets into strategic reserves will help enhance its economic resilience while promoting the growth of its digital asset ecosystem.

The city of Gelugor in Bhutan is the first to include Bitcoin, Ethereum, BNB and other digital assets in the city's strategic reserves. https://t.co/O0sjlhiTDL pic.twitter.com/CfKVSUlcS1
— gmcbhutan (@gmcbhutan) January 8, 2025

After designating Bitcoin, Ethereum, and BNB as strategic reserves, the region can use these assets to support its currency, facilitate trade, and provide a buffer against economic shocks.
Cryptocurrency supporters have long anticipated such a move because it would introduce new demand for the reserve asset, potentially having a positive impact on the value of its holdings.
GMC said Bitcoin, Ethereum and BNB were chosen because they have large market capitalizations and liquidity and can be traded with minimal price impact.
The move follows the implementation of the GMC Act No. 1 of 2024, which establishes a legal framework for companies looking to provide crypto services in the region.
The region revealed that it will meet with senior Bhutanese officials and industry leaders in March 2025 to further discuss the move and plans to set up an international advisory committee.
“A powerful example for the world”
Unsurprisingly, the GMC’s decision won approval from several members of the crypto community, including Binance CEO Richard Teng.
In a post on X on Wednesday, Teng praised Bhutan as a “powerful example to the world,” saying the small South Asian nation is leading the way in crypto innovation.

Congratulations to Bhutan for leading the way in crypto innovation!
This forward-thinking approach to blockchain adoption sets a powerful example for the world to follow. https://t.co/aubZ6gmUYr
— Richard Teng (@_RichardTeng) January 8, 2025

Bhutan has a long history of romance with cryptocurrencies, especially Bitcoin. The small country has been deeply involved in the sector since 2019, launching a Bitcoin mining project through its sovereign investment vehicle Druk Holding & Investments.
Wallets associated with the country currently hold more than $1 billion in Bitcoin and about $2 million in Ethereum, according to Arkham Intelligence. As of writing, Bhutan's GDP for 2022 is $2.9 billion.

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