Gelephu, a special administrative region in Bhutan, announced plans to include Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) in its strategic reserves. This positions it among the first regions globally to hold digital assets officially in reserves.
Crypto as a Catalyst for Economic Growth
Gelephu's decision reflects its vision to become the "Hong Kong of South Asia." Strategically located near rapidly growing economies, Gelephu aims to serve over two billion people in the region. The inclusion of BTC, ETH, and BNB is part of a strategy to adopt mature digital assets with high market capitalization and deep liquidity. These assets are chosen for their stability and ability to support transaction monitoring, ensuring transparency and security.
Strategic Partnerships and Vision
Gelephu's development has attracted international attention, including a partnership with the Danish architecture and design firm Bjarke Ingels Group (BIG). BIG is opening an office in Bhutan to work on Gelephu’s development and foster design talent. The city’s focus on digital assets aligns with Bhutan’s broader economic transformation. Gelephu plans to host a high-level meeting in March 2025 to discuss the integration of digital assets into strategic reserves.
Bhutan’s Lead in Sustainable Crypto Adoption
Bhutan's crypto journey sets it apart from neighboring countries like India, which take a cautious stance on digital assets. Bhutan's $1 billion Bitcoin holdings exceed El Salvador's $335 million. The nation's success is rooted in its ability to power Bitcoin mining with hydropower, accounting for 30% of its GDP, with a capacity to generate 23,760 MW of electricity.
Gelephu's decision to integrate cryptocurrencies into its reserves underscores the region’s progressive approach to economic development and technological innovation, solidifying its position as a leader in South Asia.
