Bhutan’s Gelephu Mindfulness City (GMC), a Special Administrative Region, will include Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) in its strategic reserves.
The region aims to use cryptocurrencies to strengthen its economy and support blockchain adoption.
GMC’s location, connecting South Asia’s growing economies, positions it to serve over two billion people.
It plans to focus on highly capitalized cryptocurrencies and secure blockchain technologies for its reserves.
Bhutan’s Growing Crypto Interest
This decision follows Bhutan’s active involvement in Bitcoin mining. Recent data shows Bhutan holds over $1.1 billion worth of Bitcoin.
The government has sold Bitcoin during price surges, showing a strategic approach to managing digital assets.
Plans for Blockchain and Crypto Expansion
GMC plans to host global leaders to discuss cryptocurrencies in strategic reserves and create an advisory panel for digital asset strategies.
The region also aims to develop legal frameworks for crypto-based financial services. Binance co-founders praised the move, calling it a milestone for blockchain adoption.
Following the announcement, Bitcoin, Ethereum, and BNB saw slight price increases. This step places Bhutan at the forefront of integrating cryptocurrencies into national economic strategies.