Crypto Revolution in Bhutan 🎉
Gelephu City Bets on Bitcoin, Ethereum, and BNB 🤑
The Gelephu Mindfulness City (GMC) Special Administrative Region in Bhutan has announced revolutionary plans to include #bitcoin #Ethereum and #bnb in its strategic reserves. This decision positions GMC as one of the first jurisdictions to officially recognize cryptocurrencies as part of its reserve assets.
Without naming any specific cryptocurrencies beyond BTC, ETH, and BNB, GMC said it “intends to recognize digital assets that have large market capitalizations and deep liquidity to ensure they can be easily bought and sold with minimal impact on price.” The SAR “will seek to recognize digital assets that are issued on more mature and secure blockchains that support on-chain transaction monitoring,” it added.
The initiative seeks to strengthen the region’s economic resilience and expand its participation in the cryptocurrency sector, especially in Bitcoin mining.
Fifth-largest nation-state holder of bitcoin
Bhutan is already the fifth-largest known nation-state holder of bitcoin, with its 12,211 BTC ($1.2 billion), putting it behind only the United States (208,109 BTC), China (190,000 BTC), the United Kingdom (61,245 BTC), and Ukraine (46,351 BTC), according to data from Bitcoin Treasuries.