Bhutan Adds Bitcoin, Ethereum, And BNB To National Reserve Assets

Bhutan added Bitcoin, Ethereum, and BNB to the state reserve fund. (Photo; Doc. Cryptorank)

JAKARTA - As a small country located in the Himalayan mountains and flanked by two major Chinese and Indian countries, apparently Bhutan has a unique economic policy. Bhutan has added cryptocurrencies including Bitcoin to the national reserve fund. In recent years, Bhutan has been secretly mining Bitcoin by utilizing renewable energy resources in the form of abundant hydropower.

This activity began to be revealed in 2021 and has since become one of the country's main strategies to strengthen foreign exchange reserves. Now, Gelephu Awareness City (GMC), one of Bhutan's administrative areas, is taking further steps by recognizing Bitcoin (BTC), Ethereum (ETH), and BNB as strategic reserve assets.

This decision makes GMC one of the few global regions to adopt cryptocurrencies as part of the country's reserves, strengthening Bhutan's position as a leader in blockchain technology.

Gelephu, known for its abundant water resources, has long been a Bitcoin mining center thanks to its abundant hydroelectric energy. After Bhutan started storing Bitcoin in its national reserves, now the country is going further by adding other crypto assets that have high liquidity and lower price risks. GMC hopes to strengthen its economic resilience.

"We have strengthened our backup portfolio with Bitcoin, Ethereum, and BNB. We see these assets as the cornerstone of an economic model that looks far ahead," said GMC Officials.

This decision demonstrates Bhutan's commitment to remain relevant in the global digital revolution, as well as maintaining economic stability by relying on assets that are easily traded and flexible in market conditions.

In addition, Gelephu will also host the Blockchain Technology Congress in March. This congress will invite entrepreneurs and politicians from various countries to discuss the future of cryptocurrency technology and its international applications. With these initiatives, GMC will not only increase its role in the crypto economy, but also has the ambition to become a pioneer in this industry.