Bhutan Allocates 10,000 Bitcoin to Develop Gelephu Mindfulness City
Bhutan will use 10,000 Bitcoin from its national reserves to help fund Gelephu Mindfulness City (GMC), a special administrative region launched in 2024 as an economic hub to create high-value jobs and retain young talent. GMC, located in southern Bhutan and covering about 10% of the country, is designed to attract industries such as finance, tourism, green energy, technology, healthcare, and agriculture. The city offers regulatory flexibility for crypto and fintech firms and expands the nation’s Bitcoin mining activities. Bhutan holds the fifth-largest national Bitcoin reserve, with about 11,286 coins mostly acquired through mining. Plans for the $875 million Bitcoin fund include diversified investment and treasury strategies prioritizing long-term preservation, governance, prudence, and transparency. Development is linked to Bhutan’s broader Bitcoin Development Pledge, aiming for nationwide economic growth and shared prosperity; most land is state-owned, and all citizens are expected to benefit. The GMC will feature crypto-based payments and a sovereign-backed gold-linked digital token (TER), and will be developed over 20 years as a regional economic corridor.
