Everything you wanted to know about Bitcoin Strategic Reserve

[Alonso_]

Taiwan’s Ministry of Justice discloses that it holds over 210 Bitcoin seized from criminal cases.



Bitcoin News

This is an interesting development.
It will be interesting to understand how a quasi-Chinese government is doing with a Bitcoin seized treasury. I am not sure on the legal status of Bitcoin in Taiwan, is it legal to hold Bitcoin as opposed to mainland China?

Yes a very interesting development I must say, and I’m wondering how they were able to seize this Bitcoin they’re talking about, we could ask them if they’re not criminals as well.

A country controlled by Chinese government and we all know how this country called Taiwan have most government officials steal money and save them with bitcoin.

Bitcoin is legal to own in Taiwan, People can hold bitcoin in Taiwan on like Mainland China it’s quite the opposite which is totally a disgrace for them.

[Bluedrem]

Bhutan's approach is quite unique because they have committed to allocating up to 10,000 Bitcoin from the country's reserves to finance the project without selling it, but instead utilizing it through strategies such as collateralized financing, risk-managed yield, and long-term investment.
It's not that Bhutan can't immediately sell all their Bitcoin to finance this project, but they are very smart and understand the essence of a 'strategic asset' and its future value. Therefore, they did not sell it, but instead used another approach that still preserves their strategic asset. In this way, they can not only raise funds for this important project but also preserve their strategic asset, which has the potential for significant growth in the future.

I am glad that another leader, besides Nayib Bukele, has the courage to step out of the traditional mindset and view Bitcoin not as just a financial asset, but as a strategic instrument for long-term development.

Bhutan's journey to Bitcoin is a fascinating one. While other Asian countries were following the same path, Bhutan chose a different path to its economic prosperity. When talented people in Bhutan were leaving the country due to low salaries, the government solved that problem with Bitcoin. They started generating a lot of electricity to produce Bitcoin and they were the first country in Asia, along with China, to publicly mine Bitcoin. If they had not sold Bitcoin at various times, they would have had much more Bitcoin than they currently have.
Of course, the steps taken by the government to build an economy on Bitcoin were very challenging. The initial journey was uncertain. If the government had not found economic prosperity in Bitcoin mining, it would have been much more challenging for the government. But now the people of Bhutan have realized that Bitcoin is capable of giving them economic freedom, so they are also holding Bitcoin personally.

[fillippone]

Bhutan chose a different path to its economic prosperity. When talented people in Bhutan were leaving the country due to low salaries, the government solved that problem with Bitcoin. They started generating a lot of electricity to produce Bitcoin and they were the first country in Asia, along with China, to publicly mine Bitcoin. If they had not sold Bitcoin at various times, they would have had much more Bitcoin than they currently have.

Their approach was the correct one.
They are rich in a productive factor, and instead of selling it at low value to other countries, they decided to extract the maximum value from it, and to use the proceeds in the immediate benefit of their citizens.
Of course, they could have hodled more, but they have immediate needs to be fulfilled.

[Derekfunds]

Bhutan chose a different path to its economic prosperity. When talented people in Bhutan were leaving the country due to low salaries, the government solved that problem with Bitcoin. They started generating a lot of electricity to produce Bitcoin and they were the first country in Asia, along with China, to publicly mine Bitcoin. If they had not sold Bitcoin at various times, they would have had much more Bitcoin than they currently have.

Their approach was the correct one.
They are rich in a productive factor, and instead of selling it at low value to other countries, they decided to extract the maximum value from it, and to use the proceeds in the immediate benefit of their citizens.
Of course, they could have hodled more, but they have immediate needs to be fulfilled.

I think that was the best move and decision they have ever make concerning this issue and I must say they are wise and they stand to gain so much with their decision in the future. Selling the Bitcoin at low price would have been a silly decision even though it would have solved their immediate want and need but rather the consider what they stand to gain in the future and believe their decision was due to the potential of Bitcoin and what they have also seen other countries like Elsavador and some other do.

[Abuobyda218]

Cointelegraph

Of the top 25 banks in America, 14 have already started offering products on Bitcoin, and in some cases, the products have already been launched. There are some banks that have already introduced two types of services, one of which is custody and trading, in 14 banks.

JPMorgan has already launched trading operations but has not yet started providing safe custody of customers' Bitcoin.
Bank of America has not yet launched any product services on Bitcoin, but they have plans in the future.
Citigroup has launched two types of service products (Custody + Trading) on Bitcoin.

[laijsica]

Bhutan chose a different path to its economic prosperity. When talented people in Bhutan were leaving the country due to low salaries, the government solved that problem with Bitcoin. They started generating a lot of electricity to produce Bitcoin and they were the first country in Asia, along with China, to publicly mine Bitcoin. If they had not sold Bitcoin at various times, they would have had much more Bitcoin than they currently have.

Their approach was the correct one.
They are rich in a productive factor, and instead of selling it at low value to other countries, they decided to extract the maximum value from it, and to use the proceeds in the immediate benefit of their citizens.
Of course, they could have hodled more, but they have immediate needs to be fulfilled.

I think that was the best move and decision they have ever make concerning this issue and I must say they are wise and they stand to gain so much with their decision in the future. Selling the Bitcoin at low price would have been a silly decision even though it would have solved their immediate want and need but rather the consider what they stand to gain in the future and believe their decision was due to the potential of Bitcoin and what they have also seen other countries like Elsavador and some other do.

Bhutan is set to follow El Salvador Bitcoin adoption policy in the future. It had 1544 square mile Bitcoin mega city has been made available land. Officially has pledged 10,000 Bitcoin for the Gelephu Mindfulness City (GMC) project. In a commendable move by the administration, it will use the pledged Bitcoin holdings to fund the GMC project, either as collateral or as a yielding fund from the holdings. This economic zone is designed to provide a separate economic source beyond the country's tourism industry and hydropower with all the benefits of modern technology including green energy.


Source: https://bitcoinmagazine.com/featured/bhutan-10000-bitcoin-to-build-mega-city

[As-Soon-As]

Bhutan chose a different path to its economic prosperity. When talented people in Bhutan were leaving the country due to low salaries, the government solved that problem with Bitcoin. They started generating a lot of electricity to produce Bitcoin and they were the first country in Asia, along with China, to publicly mine Bitcoin. If they had not sold Bitcoin at various times, they would have had much more Bitcoin than they currently have.

Their approach was the correct one.
They are rich in a productive factor, and instead of selling it at low value to other countries, they decided to extract the maximum value from it, and to use the proceeds in the immediate benefit of their citizens.
Of course, they could have hodled more, but they have immediate needs to be fulfilled.

Bhutan failed to hold Bitcoin strategically in their country because Bitcoin played the biggest role in meeting the economic needs of their people at that time. But Bhutan has been able to identify their failure, and they will create the possibility of holding Bitcoin again in the present. Bhutan can definitely learn from selling Bitcoin at a low price in the past and they missed a big opportunity and if they hold Bitcoin at the present time, this weakness of selling Bitcoin at a low price will not be revealed in them in the future. And Bhutan has now become an example for other countries, since the government of Bhutan made a big mistake by selling Bitcoin at a low price, so other countries will definitely learn from this mistake.
And they will grab more Bitcoin, because people learn from mistakes. However, there is also widespread private holding of Bitcoin in Bhutan, in which Bitcoin eliminates economic needs, this is the biggest proof that Bitcoin plays the biggest role in eliminating economic needs.

[avp2306]

Bhutan chose a different path to its economic prosperity. When talented people in Bhutan were leaving the country due to low salaries, the government solved that problem with Bitcoin. They started generating a lot of electricity to produce Bitcoin and they were the first country in Asia, along with China, to publicly mine Bitcoin. If they had not sold Bitcoin at various times, they would have had much more Bitcoin than they currently have.

Their approach was the correct one.
They are rich in a productive factor, and instead of selling it at low value to other countries, they decided to extract the maximum value from it, and to use the proceeds in the immediate benefit of their citizens.
Of course, they could have hodled more, but they have immediate needs to be fulfilled.

I think that was the best move and decision they have ever make concerning this issue and I must say they are wise and they stand to gain so much with their decision in the future. Selling the Bitcoin at low price would have been a silly decision even though it would have solved their immediate want and need but rather the consider what they stand to gain in the future and believe their decision was due to the potential of Bitcoin and what they have also seen other countries like Elsavador and some other do.

They made a wise choice for gaining leverage on its abundant hydropower for Bitcoin mining and this is really a strategic move. This decision make them smart since they transformed their natural resources into digital reserve which they can provably gain more compare if they sell cheap electricity to their neighboring countries.

Its good to recognize those actions they have done since the make everything so balance for decide to HODL since they can maximize their long term gains for doing it, nothing bad for selling some portion if there's immediate national needs need to take care of since by doing this they can prevent making any economic issues getting worse.

They avoid certain traps that they looks like rich in papers but actually poor in real time. The action the y made shows that Bitcoin could be both development tool and reserve asset for their country.

[Just Say]

Bhutan's approach is quite unique because they have committed to allocating up to 10,000 Bitcoin from the country's reserves to finance the project without selling it, but instead utilizing it through strategies such as collateralized financing, risk-managed yield, and long-term investment.
It's not that Bhutan can't immediately sell all their Bitcoin to finance this project, but they are very smart and understand the essence of a 'strategic asset' and its future value. Therefore, they did not sell it, but instead used another approach that still preserves their strategic asset. In this way, they can not only raise funds for this important project but also preserve their strategic asset, which has the potential for significant growth in the future.

I am glad that another leader, besides Nayib Bukele, has the courage to step out of the traditional mindset and view Bitcoin not as just a financial asset, but as a strategic instrument for long-term development.

Bhutan will build a Mindfulness City with nearly a billion dollars worth of Bitcoin from their Bitcoin reserves, this is truly a unique move because we can see that they are very conscious about maintaining their national reserves and they are reluctant to sell their sovereign reserves. Did you see that they have currently expressed their commitment to build a Mindfulness City with 10,000 BTC, Bhutan hopes that this project will become an economic hub for the small Himalayan nation. The current step we have seen to build their Gelephu Mindfulness City was originally taken by them in 2023, but there was widespread unemployment in this landlocked country, due to which they tried to earn revenue by exporting electricity to their neighboring countries and they also used their hydroelectric power for Bitcoin mining, due to which we can now read or see their success story.  

Even i noticed that Namgyel Wangchuck announced while allocating 10,000 Bitcoins that this promise is for their people, their youth and their nation. The main thing is that this country wants to eliminate unemployment among the youth of the country by creating Gelefu City through Bitcoin, that is, through Bitcoin. Anyway, you can watch the video of their move regarding Bitcoin here.

"To support this policy, I am announcing today the allocation of up to 10,000 BTC (bitcoin), valued at approximately $1 billion. This commitment is for our people, our youth, and our nation."

[Bluedrem]

Their approach was the correct one.
They are rich in a productive factor, and instead of selling it at low value to other countries, they decided to extract the maximum value from it, and to use the proceeds in the immediate benefit of their citizens.
Of course, they could have hodled more, but they have immediate needs to be fulfilled.

The most important thing is that if Bhutan creates a culture of paying their employees' salaries in Bitcoin and can build a buying and selling ecosystem in their country in Bitcoin, I think it will be more beneficial for them because the government will be able to meet the needs of its citizens with the Bitcoin mining they are doing, and the citizens will be able to become financially independent and achieve financial freedom in the future by holding Bitcoin, in which case Bhutan will benefit directly and indirectly.

[abhiseshakana]

Bhutan chose a different path to its economic prosperity. When talented people in Bhutan were leaving the country due to low salaries, the government solved that problem with Bitcoin. They started generating a lot of electricity to produce Bitcoin and they were the first country in Asia, along with China, to publicly mine Bitcoin. If they had not sold Bitcoin at various times, they would have had much more Bitcoin than they currently have.

Their approach was the correct one.
They are rich in a productive factor, and instead of selling it at low value to other countries, they decided to extract the maximum value from it, and to use the proceeds in the immediate benefit of their citizens.
Of course, they could have hodled more, but they have immediate needs to be fulfilled.

I read the comments about Bhutan in this thread; many of them assess Bhutan's policies through the eyes of individual investors, not through the eyes of a sovereign nation. The country has employee salary obligations, fiscal pressures, and social stability to maintain, and Bhutan operates within the real constraints of a small country with a limited economy (tourism and hydropower), unemployment pressures, and limited access to global markets. So, for Bhutan, Bitcoin is not an end in itself, but a tool.

Bhutan is not a failed hold. From a classical economic perspective, Bhutan is doing something very smart: converting its comparative advantage (cheap and green hydropower) into a global monetary asset (Bitcoin). Rather than selling cheap electricity to neighboring countries and earning small margins and a weak position, Bhutan is choosing to convert energy into Bitcoin, converting energy into a digital reserve. I see this as an example of creative destruction in a country where legacy infrastructure (cheap electricity exports) is replaced by a non-sovereign global asset.

Bhutan failed to hold Bitcoin strategically in their country because Bitcoin played the biggest role in meeting the economic needs of their people at that time.

Bhutan's Bitcoin sales are not a strategic failure; they are the function of money (used for real fiscal needs, maintaining social stability, and financing the state when needed). If Bhutan had never sold BTC at all, it would have been irrational, irresponsible, and socially dangerous. Bitcoin, for the country, is not a reliquary, but a buffer.

Bhutan is not pursuing maximum ROI; its national interest lies in stability, resilience, and strategic options. When Bhutan mines BTC, it creates reserves. It sells some to finance its needs, and it holds some for future options. What Bhutan is doing is not trading, but sovereign treasury management.

Officially has pledged 10,000 Bitcoin for the Gelephu Mindfulness City (GMC) project.

Bhutan will build a Mindfulness City with nearly a billion dollars worth of Bitcoin from their Bitcoin reserves, this is truly a unique move because we can see that they are very conscious about maintaining their national reserves and they are reluctant to sell their sovereign reserves.

I see Gelephu Mindfulness City as an evolution, not speculation, not a gimmick, but the next phase of strategy. Bitcoin is treated as collateral, a yielding reserve, and seed capital—a far more mature step than simply holding. Bhutan is shifting Bitcoin from a passive asset to long-term productive capital. I see this as a major leap in the paradigm of the state and Bitcoin.

It needs to be clarified that in El Salvador, Bitcoin is used as a monetary & political narrative, while in Bhutan, Bitcoin is used as a technocratic & fiscal tool (not forcing legal tender, not creating a Bitcoin cult, not tying national stability to the price of BTC). I think the approach is quiet, conservative, and more durable.

The most important thing is that if Bhutan creates a culture of paying their employees' salaries in Bitcoin and can build a buying and selling ecosystem in their country in Bitcoin, I think it will be more beneficial for them because the government will be able to meet the needs of its citizens with the Bitcoin mining they are doing, and the citizens will be able to become financially independent and achieve financial freedom in the future by holding Bitcoin, in which case Bhutan will benefit directly and indirectly.

This idea is interesting but premature. The risk is that volatility can lead to social stress, financial literacy inequality, and over-reliance on a single asset. However, a special zone (GMC) could serve as a policy laboratory, not a full-fledged national policy.

From Bhutan, we learn that a small country with limited resources is using Bitcoin as a development tool, a reserve, and a future option. Bitcoin doesn't have to replace everything to be truly useful. And Bhutan is an important early example of how Bitcoin has maturely integrated into the logic of the state. Bhutan doesn't live in price charts; it lives in social, fiscal, and political realities.

[Taskford]

Their approach was the correct one.
They are rich in a productive factor, and instead of selling it at low value to other countries, they decided to extract the maximum value from it, and to use the proceeds in the immediate benefit of their citizens.
Of course, they could have hodled more, but they have immediate needs to be fulfilled.

The most important thing is that if Bhutan creates a culture of paying their employees' salaries in Bitcoin and can build a buying and selling ecosystem in their country in Bitcoin, I think it will be more beneficial for them because the government will be able to meet the needs of its citizens with the Bitcoin mining they are doing, and the citizens will be able to become financially independent and achieve financial freedom in the future by holding Bitcoin, in which case Bhutan will benefit directly and indirectly.

For me this is just additional benefits they get from deciding to adopt or mine Bitcoin.

Since they don't need to take out some money from their national funds to pay their workers since now they have an option to sell some small amount of Bitcoins for that use.

What's more important is they reduce their relying on foreign aids and revenue from tourist, they also made great renovation from earning on their natural resources and They made lots of attention for those adoption and mining made on Bitcoin.

[Jaksonhard]

Bhutan chose a different path to its economic prosperity. When talented people in Bhutan were leaving the country due to low salaries, the government solved that problem with Bitcoin. They started generating a lot of electricity to produce Bitcoin and they were the first country in Asia, along with China, to publicly mine Bitcoin. If they had not sold Bitcoin at various times, they would have had much more Bitcoin than they currently have.

Their approach was the correct one.
They are rich in a productive factor, and instead of selling it at low value to other countries, they decided to extract the maximum value from it, and to use the proceeds in the immediate benefit of their citizens.
Of course, they could have hodled more, but they have immediate needs to be fulfilled.

I think that was the best move and decision they have ever make concerning this issue and I must say they are wise and they stand to gain so much with their decision in the future. Selling the Bitcoin at low price would have been a silly decision even though it would have solved their immediate want and need but rather the consider what they stand to gain in the future and believe their decision was due to the potential of Bitcoin and what they have also seen other countries like Elsavador and some other do.

Bhutan is set to follow El Salvador Bitcoin adoption policy in the future. It had 1544 square mile Bitcoin mega city has been made available land. Officially has pledged 10,000 Bitcoin for the Gelephu Mindfulness City (GMC) project. In a commendable move by the administration, it will use the pledged Bitcoin holdings to fund the GMC project, either as collateral or as a yielding fund from the holdings. This economic zone is designed to provide a separate economic source beyond the country's tourism industry and hydropower with all the benefits of modern technology including green energy.


Source: https://bitcoinmagazine.com/featured/bhutan-10000-bitcoin-to-build-mega-city

Bhutan is making progress toward an exciting and innovative future, similar to what El Salvador is doing but this will be adapted to Bhutan's unique values. By committing to dedicate an enormous space for the Gelephu Mindfulness City project and offering to provide 10,000 bitcoin in support of it, Bhutan is displaying great confidence in bitcoin as a lasting part of the economy. To use these holdings as collateral against future financing or as a yield-generating asset is a smart move because it eliminates the need for immediate liquidation of the asset. Bhutan’s vision for establishing an economic region around green energy and technology, decreasing the reliance on tourism and hydropower, can create a balanced and resilient Bhutanese economy while serving as a demonstration to other countries.

[nikola22]

This is an interesting development.
It will be interesting to understand how a quasi-Chinese government is doing with a Bitcoin seized treasury. I am not sure on the legal status of Bitcoin in Taiwan, is it legal to hold Bitcoin as opposed to mainland China?

local government has not decided yet what to do with the seized BTC. one option is to conduct an auction and send the money to state treasury and other is to establish a strategic reserve but there is still political debate over this question. apparently they have more seized assets like USDT, ETH, BNB and some others:



as for legal status of Bitcoin in Taiwan there are some local exchanges according to Coingecko: https://www.coingecko.com/en/exchanges/country/taiwan. so I suppose major global exchanges work there too and local people can freely hold BTC.

but it's just another story about seized BTC and unfortunately there are not enough stories about BTC being purchased for the country's reserves.

[moneystery]

From Bhutan, we learn that a small country with limited resources is using Bitcoin as a development tool, a reserve, and a future option. Bitcoin doesn't have to replace everything to be truly useful. And Bhutan is an important early example of how Bitcoin has maturely integrated into the logic of the state. Bhutan doesn't live in price charts; it lives in social, fiscal, and political realities.

Bhutan understands that they cannot continue to rely on the tourism sector and the energy exports they make to India, they need to do other things to improve the economy in their country, and fortunately they have a king who really understands managing the country's economy and he immediately saw that Bitcoin has the potential for them to explore to improve their economy, especially when they have a surplus of energy that can be used to mine bitcoin.

This is a combination of smart energy utilization and forward-thinking economic strategy-- and it is proven that the plans carried out by their king began to bring changes to the Bhutanese economy and allowed them to realize the development of their dream city by placing Bitcoin as a tool to achieve this. If they succeed, this step could pave the way for them to become a regional hub for data centers and other technological infrastructure that requires large and sustainable energy, and it will surely further improve their economy.

[Abuobyda218]

GHANA JUST PASSED A LAW TO LEGALIZE THE USE OF #BITCOIN TO ALL CITIZENS


Bitcoin Magazine

[Just Say]

GHANA JUST PASSED A LAW TO LEGALIZE THE USE OF #BITCOIN TO ALL CITIZENS


Bitcoin Magazine

Ghana just passed a bill to legalize the use of cryptocurrency, but I haven't seen anywhere that they specifically mention that they will legalize the use of Bitcoin for all their citizens. You, notice that the Governor of the Bank of Ghana, Dr. Asiama, announced this move and he said that the passage of their bill will end the uncertainty of crypto transactions in the country and will provide an opportunity to strengthen consumer protection. He also promised that since the trading of virtual assets is now legal in this country, no one will be arrested for trading crypto, so I think if they can strengthen the use of Bitcoin, then the residents of this country, especially the youth of Ghana, will be attracted to Bitcoin investment and help support economic diversification among them.

Ghana legalises cryptocurrency trading with passage of new law

[Abelly]

Bhutan chose a different path to its economic prosperity. When talented people in Bhutan were leaving the country due to low salaries, the government solved that problem with Bitcoin. They started generating a lot of electricity to produce Bitcoin and they were the first country in Asia, along with China, to publicly mine Bitcoin. If they had not sold Bitcoin at various times, they would have had much more Bitcoin than they currently have.

The example of Bhutan is truly thought provoking.They have Shown that Economic prosperity does Not have to be achieved by Following the Conventional path.When talented People were Leaving the Country due to low Ealaries,The Bhutanese government took a long-term view and chose Bitcoin as a strategic asset.They started mining Bitcoin using natural hydropower and were one of the first countries in Asia to do so publicly. It is true that they have less Bitcoin in their hands today than they could have because of selling Bitcoin at various times, but they have proven that.The right asset selection and long-term thinking can change the Economic direction of a country.Bhutan teaches us that it is not short-term gains, But patience, foresight and the proper use of Natural resources that lead to sustainable prosperity.

From Bhutan, we learn that a small country with limited resources is using Bitcoin as a development tool, a reserve, and a future option. Bitcoin doesn't have to replace everything to be truly useful. And Bhutan is an important early example of how Bitcoin has maturely integrated into the logic of the state. Bhutan doesn't live in price charts; it lives in social, fiscal, and political realities.

Bhutan has Broken the Stereotype that Bitcoin must Replace everything to be effective,And has maturely integrated Bitcoin into the existing social,Economic, and political framework. Bitcoin mining has been done using surplus Electricity generated from Hydropower,Which has generated revenue on the one hand,While maintaining control over human resources and sovereign decisions on the other.Bhutan does not live within a price list,They live within real human lives,Social stability, and long term state interests.This is why Bhutan’s Bitcoin strategy sends a powerful message Bitcoin is a tool that, When used in the right context,can create value for both the state and Society.

[Derekfunds]

Their approach was the correct one.
They are rich in a productive factor, and instead of selling it at low value to other countries, they decided to extract the maximum value from it, and to use the proceeds in the immediate benefit of their citizens.
Of course, they could have hodled more, but they have immediate needs to be fulfilled.

The most important thing is that if Bhutan creates a culture of paying their employees' salaries in Bitcoin and can build a buying and selling ecosystem in their country in Bitcoin, I think it will be more beneficial for them because the government will be able to meet the needs of its citizens with the Bitcoin mining they are doing, and the citizens will be able to become financially independent and achieve financial freedom in the future by holding Bitcoin, in which case Bhutan will benefit directly and indirectly.

I think the Government of Bhutan has done noble and that is a great development any country will ever wish for because the  Future of Bitcoin is so promising that if someone fails to accept it now, it will be strange and regretful for the person in the future. And if actually I'm from Bhutan, I won't be using my Bitcoin to pay flight or any other things even though I'm been paid in Bitcoin instead I will keep accumulating it and using the already existing currency or fiat to settle bills and some other things that is if I have other sources of income. And this awareness of Bitcoin in Bhutan will make the country rise In a way people can ever imagine.

[Taskford]

GHANA JUST PASSED A LAW TO LEGALIZE THE USE OF #BITCOIN TO ALL CITIZENS


Bitcoin Magazine

Ghana just passed a bill to legalize the use of cryptocurrency, but I haven't seen anywhere that they specifically mention that they will legalize the use of Bitcoin for all their citizens. You, notice that the Governor of the Bank of Ghana, Dr. Asiama, announced this move and he said that the passage of their bill will end the uncertainty of crypto transactions in the country and will provide an opportunity to strengthen consumer protection. He also promised that since the trading of virtual assets is now legal in this country, no one will be arrested for trading crypto, so I think if they can strengthen the use of Bitcoin, then the residents of this country, especially the youth of Ghana, will be attracted to Bitcoin investment and help support economic diversification among them.

Ghana legalises cryptocurrency trading with passage of new law

That decision done by their government is game changer since it clarifies the legal status of cryptocurrency in their country and remove confusions also doubts which people feels especially they are trading Bitcoin in their country.

But the law does not mention only Bitcoin but rather all cryptocurrency and that means their citizens can decide on which coins they want to trade, but hopefully they choose to HODL Bitcoin and ignore trading shitcoins.

What matter the most at this point that trading this asset is regulated also legal and they won't face any penalties or other troubles. But if they really want to proper consumer protection they must have educate their citizens towards the law they are passing so they can avoid any other misconceptions especially that maybe there are scammers will take advantage on the law they currently implemented.