- Bhutan pledges up to 10,000 BTC, valued at about $1 billion, for the development of Gelephu Mindfulness City.
- The kingdom intends to hold Bitcoin long-term, exploring strategies such as collateralization and risk-managed yields without selling.
- Citizens across Bhutan will share in the project’s benefits through a new land policy treating them as shareholders.
- Bhutan ranks seventh globally among sovereign Bitcoin holders, with nearly 6,000 BTC valued over $522 million.
- Gelephu Mindfulness City integrates blockchain innovations, including cryptocurrency reserves, payments, and identity systems linked to public blockchains.
Bhutan announced a commitment to allocate up to 10,000 Bitcoin (BTC), approximately $1 billion in value, to finance the development of Gelephu Mindfulness City (GMC), an economic hub in southern Bhutan. The pledge was made public on Wednesday as part of the kingdom’s strategy to foster economic growth and resilience.
His Majesty King Jigme Khesar Namgyel Wangchuck emphasized the inclusive nature of the initiative during his National Day Address, stating, “As your King, I must ensure that every Bhutanese is a custodian, stakeholder, and beneficiary of GMC.” The plan includes a novel land policy positioning Bhutanese citizens from all regions as shareholders, sharing in GMC’s success.
The Bitcoin Development Pledge represents one of the largest sovereign digital asset commitments toward infrastructure development worldwide. Rather than selling the Bitcoin, Bhutan aims to preserve the capital for long-term appreciation. Strategies under consideration, as mentioned by GMC board director Jigdrel Singay, include collateralizing BTC holdings and employing risk-managed yield and treasury approaches to safeguard and grow the digital assets.
Currently, Bhutan holds 5,984 BTC worth over $522 million, ranking seventh globally for sovereign Bitcoin possession, according to Arkham Intelligence data. This movement is part of Bhutan’s continued embrace of blockchain technology, which began with Bitcoin mining powered by the country’s abundant hydroelectric energy.
This year, GMC designated Bitcoin, Ethereum, and Binance Coin (BNB) as strategic reserves. It also partnered with Binance Pay to enable cryptocurrency payments within the tourism sector and integrated its National Digital Identity platform with Ethereum. This integration makes Bhutan the first country to anchor a population-scale identity system on a public blockchain.
Last week, GMC launched TER, a Gold-backed digital token on the Solana Blockchain, distributed exclusively by DK Bank. As described by Singay, the issuance of sovereign-branded gold-backed tokens demonstrates a balance between innovation and Bhutan’s core values of transparency, sustainability, and long-term stewardship.
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