Bitcoin Forum

Kazakhstan just made headlines by launching a state-backed crypto reserve fund, starting with BNB as its first asset. This marks one of the few times a government has officially treated crypto as part of a national reserve strategy.

But Kazakhstan isn’t alone:

• El Salvador – already holds Bitcoin directly as part of its treasury since 2021.
• Bhutan – secretly mining and accumulating Bitcoin for years using its hydropower.
  
• United States – reportedly preparing a Strategic Bitcoin Reserve framework, and the U.S. government already controls a significant amount of Bitcoin from seizures (e.g. Silk Road, criminal cases).
• Kazakhstan – now openly creating a crypto reserve starting with BNB.

And it might not stop there. Even in the Philippines, there’s already a proposed bill suggesting that the country should buy 10,000 BTC to add to its national reserves.

If more countries adopt this kind of policy, we might be looking at a world where Bitcoin (and maybe other cryptos) are treated like gold, a strategic reserve asset that nations compete to hold.

What do you think:

Will state-backed crypto reserves become a global norm?
And if your country decided to buy Bitcoin for reserves, would you support it?

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https://cryptonews.com/news/kazakhstan-launches-national-crypto-reserve-with-bnb-as-first-asset/

Launching a state-backed crypto currency reserve fund that's backed by BNB? A coin that was created by Changpeng Zhao who is famous for doing lots of shady things on Binance exchange and also for BNB coin? Money lights hell.

You are right, it's a new trend. We are moving from the real world to a virtual world, so Bitcoin is the best digital alternative of gold. It's decentralised, most backed and the most popular, which makes it the safest option available. Some other cryptocurrencies, like BNB, are part of the reserve because I'm sure there is a huge amount of money behind it because it otherwise doesn't make sense, it's a coin backed by lots of shit.

 I would support my country buying Bitcoins to back reserves because this is the combination of the most promising and safe coin on the market that's available currently. It's also a much better option than deflationary paper currencies.

1) Yep, it becomes something of a target for many countries.
2) Well, I think I would - its a step toward adoption, not for the users per se, but overall, so it would still be good to see.

I guess that's the part that we're heading to because it has now become a trend. Not sure if some of these countries are doing it because they actually need it for the benefit of their own country. They might be doing it probably to follow trends, and not to find themselves behind when everything eventually turns out great in the future. It is definitely going to be a global norm with time, but the process in which they're going to accumulate also matters. Is it going to be through confiscation, like a certain country practice, or through purchase?.



I would...
Bitcoin is growing fast, so no one should be left behind.

Of course it's now becoming a global trend as I foresee more countries adopting to this methods and wouldn't want to be left out. About Kazakhstan making choice to start with BNB is not a bad plan but to me it could had been better starting with BTC at least to have a solid edge than BNB, although it could be that BNB is more cheaper but then what is their benefits if altcoin are mostly controlled by Bitcoin, and again, could they be able to handle bear market of altcoins?  As it is more corrosive and severe than Bitcoin.

1. This is already turning into a global norm, because you can realize that from how many countries have been considering for Bitcoin National Reserve, not only that, we have a number of reputable industries that have also been doing same, because they all understand why bitcoin could be the needed solution to the financial economy system globally.

2. Why won't I support my country for this unique decision, if someone  like me can have an understanding to why I needed to adopt bitcoin, governments should be in a better position of doing the same of even encouraging others to adopt it and make their financial economy more better being an alternative to the one they control.

He no longer controls Binance, and even though Binance violated the law which led to CZ serving jail time but later being released after an agreement with the state - it’s still the number one exchange worldwide. So for me, it makes sense to choose BNB. It’s one of the most solid altcoins right now and could even overtake Ethereum in the future.


they sure have studied it already before making a conclusion to make bnb as their reserve.

Yes. Sooner or later, most countries would be buying crypto to keep in their reserves and those who are late to the party might have a harder time than most.
Yes, of course. It’s high time we follow other countries in new developments however what I would like the best is if my country decided to allow and encourage their citizens to use crypto instead of just keeping it for reserves.

It's gaining motion globally.

Every economy has phenomenons like inflation that can't be totally eradicated, but only management.
So Cryptocurrency acts as a tool to go about them

Especially in countries that experience devaluation in currency, citizens and household turn to crypto as a hedge against devaluation to retain our store the value of their money.

Not without its challenges, but globally it's gaining motion

Right now, the only Bitcoin the U.S. government holds comes from law enforcement seizures. That has  been their position whenever the idea of  Strategic Bitcoin Reserve is discussed.

I feel classifying this type of holding as a reserve might be a bit misleading. For an asset to qualify as a proper strategic reserve, it needs:

• An official policy framework declaring the asset as part of the national reserves in our case Bitcoin.
• Active acquisition of the asset (Bitcoin)  funded by state revenues, not just through seizures.
• Custody and management structures, something similar to those used for gold or foreign currency reserves.

It is turning a global trend actually little by little, these first countries are pace setters, very soon others would follow. Bhutan for example has been mining bitcoin from the covid period, I don't think they actually bought any but mined all their coins and even used their bitcoin to stabilize their economy to a reasonable extent and fund government activities like paying civil servants salaries. They started with just two computers and now have state backed mining farms using hydro-power. Many countries would be joining the adoption in the coming years since no one would really like to be left out.

I do not really support holding centralized BNB as a state or national reserve, unless of course they have agreements that would favour them with CZ.

We can see the signs already,  countries which we never thought would see anything good out of bitcoin are now considering it as a reserve. I have no doubt that in years to come, crypto reserves will become a norm in almost every country.

Yea, bitcoin has that quality to be a reserve. It is scarce, durable and appreciates over time. By the time a few countries (which we are already seeing now) adopt it as a reserve fully, other countries will also feel the pressure to adopt it too.

All of these will definitely not happen immediately, it will take time. That is why we need to give bitcoin time to get to where it is expected to be.

BNB?  As in Binance coin?   Why would any country use that?  It is like using monopoly money as a reserve.  Just because it says "crypto" doesn't mean it is a good idea if it could be inflated away, unilaterally changed etc.

He is back, if you notice that his X account handler is now no longer as ex Binance CEO, it's CZ_binance. I believe that it is only a little bit more time until his fully return to Binance as the exchange CEO officially.
https://x.com/cz_binance

This change of his X account handle is not concidence but it was changed on purpose.

I can not disagree with you that nations will look for their national CBDCs or universal stable coins available on the market. Countries need to use cryptocurrencies that have values peg to fiat currencies either the US dollar, the Euro, or other fiat currencies. BNB is not a stable coin and it's risky for all nations to use it as their national currencies, just like Bitcoin.

This shows that things are changing and with all this innovation will cause massive adoption of the coin, and this whole thing started when El Salvador started investing in bitcoin and they made a whole lot of profit and the funny thing is that a lot of countries were kicking against it and now they are adopting it. And the eye opener is El Salvador because they were the first to adopt it.

And Trump trying to make a bitcoin reserve will not only make other countries to want to copy but it will also help the price of Bitcoin to go up so this are things that will help the price for sure.

Kazakhstan starting with bnb is not a bad idea but why did they not start with bitcoin or they are scared because of the price but even at that starting with bitcoin would have still be the best option so for some few years now bitcoin have been on the mind of so many countries to adopt. They are just waiting.

Surely, government-backed cryptocurrency reserves will become a global standard. It's only a matter of time. Several countries have already taken concrete steps in this direction, and others are still under consideration. I believe it won't be long before we see more countries officially join the Bitcoin reserve club.

In my country, there is currently no law regulating Bitcoin, and we are still very far from taking the step of establishing a Bitcoin reserve. But if my government decides to do so, I will be the First supporters.

So they made a good decision to get into cryptocurrencies, but then went ahead and chose an altcoin to get started? What could possibly be the reason behind that? I mean, if they wanted to start using cryptocurrencies as a national reserve, Bitcoin should have been the first choice as said by others in this thread, but they decided to go with an altcoin, and that too with one that is centralized, basically, and backed or owned by a centralized trading platform. Is it possible that this is some kind of an sponsored act by Binance to gain more attention and popularity?  ::)

Now talking about the trend, it's true that most countries are slowly showing interest for cryptocurrencies, and are willing to buy and hold them either as national reserves or investments. Some countries are also opting to start mining Bitcoin, even our country was thinking of starting a Bitcoin mining project, but then it got cancelled for some reason.

After other countries took the risk and tried out first, it is becoming easier for other countries to join the experiment and try Bitcoin out.  Now while I am glad Bitcoin is getting seen as an investment by an increasing number of countries, I am afraid this will come with significant risks at one point.

When the economy turns really bad, do we trust that our government does not enter full on panic mode and start mishandling their Cryptocurrency reserves?  I would honestly not trust that they would.

While Kazakhstan recently launched a state-owned crypto reserve, we previously observed that the country's president ordered the creation of a Bitcoin reserve through the central bank. In fact currently not only this country but many other countries are going to accept Bitcoin as a reserve, which has now become a trend. They now have the Alem Fund as the first national crypto reserve but it is a matter of consideration whether Kazakhstan will be able to handle its downward trend well since they started it with altcoins. We all know that Altcoins are much more dangerous than Bitcoin because they are always associated with high volatility, yet Kazakhstan has initially accepted BNB into their crypto reserves.

Kazakhstan President Initiates Strategic Bitcoin Reserve Plan  (https://www.bitget.com/news/detail/12560604960839)

https://www.talkimg.com/images/2025/09/30/UQWdiP.jpeg (https://x.com/BTC_Archive/status/1965024775387885835?t=-_x5hNYLHxn7HHJAcm9egQ&s=19)

From the list of countries listed above, only El Salvador and Bhutan have shown commitment to creating a crypto reserve. Others are just showing policies, and the US got its own via seizures. We are tired of paper commitment, let's see actions.

The US is a role model to so many countries. More countries might join the crypto reserve boat if the US start accumulating.

Bitcoin is highly profitable. So I will support my country to invest in a profitable asset because it will bring more money to the economy.   

Few countries actually see The United States as a role model any more.  In fact.  I would not be surprised at all if they started virtually punching the administration and calling it a giant risk to the country if they finally start a reserve.  The articles about Putin using Bitcoin to avoid restrictions are already there, all tools are at hand to call it a bad move.

I wouldn't call it a global trend unless I see more of the developed countries following the US's foot steps. So far we only have the US and as far as I am concerned the US is making a reserve out of the seized bitcoins from the criminals. They are not buying any new coins from the market. The difference is they were going to sell it but I guess they decided not to. Will they spend these reserves on something? I don't know but again I have read about this topic a while ago so I might have forgotten a few facts about it.

Bhutan, Kazakhstan and El Salvador are quite small countries so they don't have any impact at all.

I'd rather like to see countries like Germany, Japan, United Kingdom, Italy, France, Russia, Switzerland etc. creating their bitcoin reserves but so far none of these big shots joined the party. Maybe they'll change their minds soon.

Add Pakistan to the list as well as they have also shown their interest to add Bitcoin in their national reserves but that is just a plan for now as many other countries have shown this plan too, not too big news but still it is worth to be selling. The news about Kazakhstan is really bullish for BNB for now but eventually, they will also become a hub for crypto that is really surprising.

They have been mining bitcoin already for a long time, the energy there is cheap. My country has supported to buy bitcoin and they have also announced to dedicated 2k MW power to bitcoin mining and ai sector. I Support them completely because that is the future especially the mining plan although they are late to join the game but still worth it haha.

Yes, many countries are thinking about increasing their crypto reserves, but I don’t think all reserves will be created equal, meaning everyone will not rely only Bitcoin. For example, Kazakhstan just launched the Alem Crypto Fund, and El Salvador, Bhutan, and the United States have already shown that governments will store crypto on their balance sheets. The Philippines has a bill proposing that they buy 10,000 BTC in reserves over five years, buying 2,000 BTC a year, and holding these reserves for at least 20 years. They can only sell or use them for emergencies like government debt.
So this is trending, states want strategic digital assets but they may not care that not all reserves are created equal.
They should understand that BNB or exchange tokens have a risk of centralized counterparty, while BTC is a censorship-resistant store of value.
So I would only support my country buying Bitcoin if they treat it as a long-term, cold, audited reserve, with no political stunts, or any custodial slush, otherwise it’s just theater. HODL values ​​are greater than any headline PR, lmao.

It's good news coming from Pakistan currently. You are lucky to be in a country that has a constant power supply and has friendly crypto laws. Bitcoin mining is nonexistent in my country because of the unstable and expensive electric supply. The government of my country has failed to see the potential of the crypto industry. When other nations are striving to build a crypto hub, some countries are scaring away investors with harsh policies.     

I think this is the first time that I'm hearing about a country using or proposing a crypto strategic reserve that is not Bitcoin, I want to believe that Kazakhstan, must have a good reason not to follow the norm. BNB is a top altcoin and I wish them all the best, maybe it can open doors for other countries that are proposing strategic reserves to also consider top altcoins. Bitcoin specifically has built so much reputation and it is leading in the crypto global trend, I foresee more countries proposing and implementing Bitcoin strategic reserves in the near future.

Actually, El Salvador is a very good example to look at since they’ve been accumulating Bitcoin. Bhutan too, but their approach is through mining, which isn’t as risky as what El Salvador is doing. The sad part for El Salvador is that they once declared Bitcoin as legal currency, but had to take a step back because of IMF pressure.

Still, they’re in a good position now, and it’s good to see how much they continue to support the Bitcoin ecosystem.


They’re one of the biggest if not the biggest country, and they set the standard. So once they’ve made it public that they’ll use Bitcoin as a reserve, other countries might follow. But the thing is, it’s not coming from real effort or risk, it’s from seizures linked to illegal activities.

To me, that doesn’t really look good. But I get it, that’s their strategy to minimize risk and create some publicity about being “Bitcoin-friendly.” Let’s just see if they actually accumulate more in the future.

Why doesn't it start with Bitcoin instead of BNB? But maybe they have a different plan choosing BNB as their first asset. That is their decision and we can only follow the news of what they will do. But we always suggest Bitcoin to be the first asset and our reserves and maybe this step can bring crypto supported by many countries.

I will support my country if my government decides to buy Bitcoin for reserves. That will bring another income in the future which can help the economy of my country. When my government sells Bitcoin at a high price, the profit will be bigger and they can distribute the profit to many infrastructure and other things.

Of all the countries you mentioned, only El Salvador buys Bitcoin, everyone else is trying to make do with other methods. Bhutan mines because it has excess electricity. The US simply confiscated the Bitcoin in its reserves and doesn't replenish them in any way. So, on the one hand, these countries would like to have Bitcoin reserves, but on the other, they want to make sure they can get this Bitcoin without spending money from the budget...

That's correct...

The US has the easiest way of acquiring Bitcoin and turning it into reserves. Bhutan, on the other hand, does earn Bitcoin through mining, but it’s not as simple as it sounds - they also invested a huge amount of money into their mining rigs.

As we can read here, Bhutan invested around $500 million.

https://cryptoforinnovation.org/bhutans-bitcoin-mining-reveals-wider-interest-in-digital-assets/

He was controlling Binance, then got arrested for violating rules, then got released in exchange of $4 billion and left his post? Do you really think that it's true? It's similar to saying that Medvedev was President of Russia in 2008-2012 and Putin was the Prime Minister. It's one thing what's written on paper and another what's happening in reality. Officially, CZ is no longer a CEO but that doesn't mean that his control over Binance is any less than he had when he was a CEO. He formally is not a CEO, but otherwise, nothing has changed, it's his business.

BNB is not a solid altcoin. It's only brings good ROI because of CZ's smart manipulations. This man really knows how to pump his coin but besides manipulation, BNB is not a solid coin. Without CZ's tactics to artificially pump it, BNB will fail.

I think you can say this about any business or project, especially one that already has a high market value and strong recognition, everything depends on the people who drive it forward. As long as they have the desire, energy, and resources to keep working on these projects, they thrive. These people can be in the spotlight or operate behind the scenes, but that doesn’t really change anything. If you analyze CZ’s work and his previous achievements, it’s quite likely that BNB could become, if not the most successful project, then at least one that won’t disappear after a major global crypto market crash.

There are some reports that CZ holds more than 60% of the BNB supply, and that could be the reason why BNB could maintain its value quite well even during the 2022 bear season or when the market dumps. If that is true, how can a coin with more than 50% of its supply held by 1 person be considered safe and trustworthy?
CZ has been to jail once, what guarantees that he won't go to jail again? What will happen to BNB if he gets jail time like SBF? That will be the end of BNB and Binance.
Yes, BNB has the potential to increase in price due to CZ's manipulation but it is not a solid altcoin.