Bhutan to Hold Bitcoin, Ethereum, and Binance Coin as Reserve Assets

Bhutan is solidifying its crypto strategies with the plan to hold Ethereum and Binance Coin alongside Bitcoin in its treasury

Bhutan will hold Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and other digital assets as part of its reserves. 

According to the announcement, this decision shows the country’s growing acceptance of cryptocurrency and blockchain technology. Notably, Bhutan’s move fits with its plan to use digital assets in its financial strategy.

Bhutan Aims to Modernize its Financial System

Bhutan’s Gelephu Mindfulness City (GMC) plans to invest in digital assets, focusing on those with high market value and good liquidity. 

The goal is to stabilize and diversify the country’s reserves, moving beyond traditional assets like gold and foreign currencies. By adopting cryptocurrencies, Bhutan aims to modernize its financial system and become a leader in blockchain innovation.

Meanwhile, Bhutan’s GMC decision has drawn attention from industry leaders. Binance’s co-founders, Changpeng Zhao (CZ) and Yi He, expressed their enthusiasm for Bhutan’s adoption of digital assets. 

Likewise, BNB Chain praised Bhutan’s decision. They called it an important step for using blockchain technology and believe it shows how blockchain can make financial systems more efficient, transparent, and decentralized.

Interestingly, GMC is one of the first places to hold digital assets as part of its reserves. This makes the jurisdiction poised to become a global hub for blockchain innovation. However, the world is watching how Bhutan’s early cryptocurrency adoption would inspire other countries to use digital assets effectively.

Bhutan Crypto Space 

GMC’s adoption of digital assets as part of its reserves closely follows the enactment of GMC Law No. 1 of 2024. 

The law, also known as the ‘Application of Laws Act 2024,’ establishes a comprehensive and transparent legal framework. This provides clarity and guidance for businesses operating with digital assets within GMC.

Also, GMC is set to hold a groundbreaking international summit in Bhutan in March 2025. This global gathering will convene high-ranking government officials and industry visionaries to explore the integration of digital assets into national reserves.

Amazon and Bitcoin as a Strategic Asset

With the ongoing trend of corporate firms buying Bitcoin and other digital assets, shareholders nudged Amazon to make a similar move. 

Last month, the leading online retail platform received a proposal to adopt BTC as part of its treasury reserve strategy. Pro-Bitcoin advocates, including Michael Saylor and Robert Kiyosaki, believe Bitcoin is a safe bet for financial reserves.

Ahead of Amazon’s 2025 shareholder meeting, the researcher proposed using Bitcoin as a treasury reserve asset strategy. 

This report suggests that the platform should consider adding Bitcoin to its financial strategy and balance sheet. If Amazon ignores this shift, it risks falling behind competitors who are adopting the future of finance. Specifically, Amazon could lose out on the asset’s long-term growth opportunities.

Disclaimer: The information provided in this article is for informational purposes only. It does not constitute investment, financial, trading, or any other sort of advice. You should not treat any of BGECrypto’s content as such. BGEcrypto does not recommend that any cryptocurrency should be bought, sold, or held by you. Do your due diligence and consult your financial advisor before making any investment decisions.