Bhutan’s Gelephu Mindfulness City (GMC) has announced plans to add digital assets like Bitcoin (BTC), Ether (ETH), and Binance Coin (BNB) to its strategic reserves, building on the country’s expanding Bitcoin mining efforts.
Adds Cryptos to Strategic Reserves
Bhutan’s Gelephu Mindfulness City (GMC) announced plans to include digital assets like Bitcoin (BTC), Ether (ETH), and Binance Coin (BNB) in its strategic reserves.
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According to an official announcement, the move aims to strengthen its economy and build on the country’s growing Bitcoin mining activities.
Additionally, GMC aims to include digital assets with high liquidity and large market caps in its reserves, prioritizing secure blockchains that enable transaction monitoring.
The move positions Bhutan as one of the first to officially integrate cryptocurrencies into its reserves, aligning with the global shift toward digital asset adoption.
Located at the crossroads of South Asia’s growing economies, Bhutan’s GMC focuses on promoting blockchain technology and innovation.
The initiative is backed by the ‘Application of Laws Act 2024,’ which establishes regulations for digital asset services, creating a forward-thinking, regulated market environment.
Bhutan Builds $1.12 Billion Bitcoin Reserve
Bhutan has emerged as a notable player in the cryptocurrency market, holding around 11,688 Bitcoins worth $1.12 billion, or approximately 34% of its GDP, according to Arkham Intelligence.
The government, which began Bitcoin mining in 2019, has used the country’s abundant hydropower resources to bolster its digital asset holdings.
As per Arkham intelligence, these holdings primarily stem from Bitcoin mining operations, not law enforcement asset seizures, with activity ramping up notably since early 2023.
Why This Matters
The country’s growing role as a Bitcoin holder and miner, mainly using renewable energy, has increased its international visibility in recent years, positioning Bhutan as a unique player in the digital asset space.
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