GMC Embraces Bitcoin, Ether, and BNB
GMC aims to incorporate digital assets characterized by substantial market capitalization and liquidity to strengthen its strategic reserves. The city’s decision to include BTC, ETH, and BNB is designed to enable trading with minimal price volatility, according to an official press release.
The city will focus on assets built on mature and secure blockchain platforms, ensuring thorough on-chain transaction oversight. Strategically located on the land bridge connecting South Asia’s thriving markets, GMC is set to serve a population of over two billion people, creating a potential economic powerhouse for digital asset integration.
Plans for a Global Digital Asset Summit
In March 2025, GMC will host a high-profile gathering that will bring together top government officials and industry experts from around the globe. The event will focus on the integration of digital assets into strategic reserves and the creation of an international advisory panel for GMC.
Binance CEO Reacts to the Announcement
Following the news, Changpeng ‘CZ’ Zhao, the co-founder and former CEO of Binance, tweeted his support for the initiative. He noted:
“It’s not just a bitcoin reserve but a crypto one, including ETH and BNB. I believe this is a first, and it sure won’t be the last. This signals that Bhutan is open-minded and open to other cryptocurrencies, too. Hint, hint. This is a smart move by the country to attract crypto companies, investments, and innovation. By the way, the Kingdom of Bhutan has been known for years for mining Bitcoins with clean (excess hydro) energy. By default, it already has a Bitcoin reserve.”
CZ also emphasized that the move opens the door for BNB and other digital assets to be included in the strategic reserves of other countries, highlighting Bhutan’s progressive approach to crypto adoption.
Bhutan’s Journey into Bitcoin
Bhutan has long been known for its commitment to sustainability, and its venture into Bitcoin mining is no exception. The royal government, through its commercial entity Druk Holding and Investments (DHI), has amassed a substantial portfolio of digital assets.
According to data from Arkham Intelligence, Bhutan currently holds:
- 11,688 BTC, valued at approximately $1.12 billion
- 656 ETH, worth around $2.2 million
- Smaller holdings in chains such as Polygon, BNB Chain, and Base
Instead of acquiring Bitcoin through seized assets like some nations, Bhutan has focused on sustainable Bitcoin mining powered by its abundant hydroelectric resources. Mining operations began in April 2019, when Bitcoin was trading at around $5,000. By 2023, these reserves accounted for 26.9% of Bhutan’s GDP, according to World Bank estimates.
Conclusion: A Bold Move for Bhutan’s Future
Bhutan’s decision to recognize Bitcoin, Ether, and Binance Coin in its strategic reserves represents a bold step towards embracing digital assets at the national level. This move positions GMC as a forward-thinking region poised to attract crypto innovation, investment, and adoption in the coming years. As the global digital asset ecosystem continues to evolve, Bhutan’s proactive stance will likely inspire other nations to follow suit, leading to greater mainstream acceptance of cryptocurrencies.
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