The region aims to use cryptocurrencies to strengthen its economy and support blockchain adoption.
Bhutan’s Gelephu Mindfulness City (GMC) to Include Bitcoin, Ethereum, and BNB in Strategic Reserves Bhutan’s Special Administrative Region, Gelephu Mindfulness City (GMC), has announced plans to include Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) in its strategic reserves. The move aims to strengthen the region’s economy and support blockchain adoption.
GMC, which connects South Asia’s growing economies, is positioned to serve over two billion people in the region. The city plans to focus on highly capitalized cryptocurrencies and secure blockchain technologies for its reserves.
Bhutan has been actively involved in Bitcoin mining, with recent data indicating that the country holds over $1.1 billion in BTC. The government has also sold Bitcoin during price surges, demonstrating a strategic approach to managing digital assets.
GMC intends to host discussions among global leaders on the topic of cryptocurrencies in strategic reserves and establish an advisory panel to guide digital asset strategies. The region also plans to develop legal frameworks for crypto-based financial services.
Binance co-founders have expressed enthusiasm for the announcement, highlighting it as a significant moment in blockchain adoption. The news led to minor price increases for Bitcoin, Ethereum, and BNB.
This development positions Bhutan at the forefront of integrating cryptocurrencies into national economic strategies.
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