#BNBBhutanReserves Bitcoin, Ethereum and BNB Get Bhutan Nod
Bitcoin, Ethereum, and BNB are now strategic reserve assets in Bhutan. Specifically, these crypto assets are now reserve assets in Gelephu Mindfulness City (GMC), a special administration region in Bhutan aimed at fostering innovation and economic development.
GMC disclosed this in a Wednesday, January 8 press release, noting that it expects that integrating these crypto assets as strategic reserves will help bolster its economic resilience while contributing to the growth of its digital asset ecosystem.
Bhutan’s Gelephu Mindfulness City Pioneers Adoption of BTC, ETH and BNB and Other Digital Assets in 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 do everything from backing its currency to facilitating trade and providing a buffer against economic shocks.
Crypto proponents have long pined for moves like this as it introduces new demand for the reserve asset, which could positively impact the value of their holdings.