Binance Co-Founder Changpeng Zhao Applauds Bhutan’s Crypto Strategic Reserve Plans

Binance Co-Founder Changpeng Zhao has recently applauded Bhutan’s decision to introduce Bitcoin, Ethereum, and Binance Coin (BNB) into its strategic reserves. As recently posted on X, Zhao emphasized how this was a progressive move that makes BHutan a leader in the use of digital assets across the world.

Changpeng Zhao Commends Bhutan’s Crypto Strategy

In an X post, Binance Co-Founder Changpeng Zhao has pointed out that the decision of Bhutan to include various cryptocurrencies in its reserves is not limited to Bitcoin only. He added that the inclusion of Ethereum and BNB shows how Bhutan is willing to try out many different digital assets.

“This is a great decision by the country to lure the Crypto firms, investments, as well as innovation,” he added.

According to the Binance Co-Founder, this is a significant move that can be considered as a validation for the Binance Coin (BNB). Zhao added,

“This will pave way for BNB and other cryptocurrencies to be included in the list of strategic reserves of other countries in the future.”

Bhutan’s History with Bitcoin Mining and Crypto Reserves

Binance Co-Founder Changpeng Zhao has also applauded Bhutan for its engagement in the cryptocurrency industry, especially its use of renewable hydropower for Bitcoin mining. He noted that Bhutan has a Bitcoin reserve through its mining, and thus it is in a good place to diversify to other cryptos such as Ethereum and BNB.

The Kingdom’s sovereign investment arm, Druk Holding & Investments, is also said to have been mining Bitcoin since 2019, and the country now holds a large number of coins.

Zhao noted this foundation and said, “By virtue of default, Bhutan has a large amount of Bitcoin, which makes this step even more calculated.”

Bhutan’s Gelephu Mindfulness City and Crypto Adoption

Changpeng Zhao also pointed out the statement made by Bhutan’s Gelephu Mindfulness City (GMC) that has recently declared its intention to incorporate cryptocurrencies into its strategic reserves. In Zhao’s view, other regions may follow this strategy to explore the possibilities of adoption.

GMC’s move to add Bitcoin, Ethereum, and BNB is to strengthen the economic stability and a stronger cryptocurrency market. Zhao noted that the emphasis on liquid assets and reliable blockchains guarantees smooth interaction with the regional economic environment.

The Binance Co-Founder is hopeful that Bhutan’s move will have a ripple effect on other countries and will not be the last of its kind.

“Bhutan is ahead of the curve and paving the way for other nations to follow when it comes to cryptocurrency and economic sustainability,” he added.

Zhao concluded his statement with optimism about the place of Binance Coin (BNB) in future national reserves. Zhao stated that as more countries consider implementing digital assets, efforts like those made by Bhutan will play a crucial role in shaping the world’s attitude towards cryptocurrencies.

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Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

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