Bhutan pledges 10K Bitcoin to develop its ‘mindfulness city’
Bhutan plans to use 10,000 Bitcoin from its national reserves to fund the development of the Gelephu Mindfulness City.Summary
The Kingdom of Bhutan announced it will allocate 10,000 Bitcoin from its national holdings, valued at around $875 million, to finance the development of the Gelephu Mindfulness City (GMC). Launched in 2024, the GMC is a new special administrative region in Southern Bhutan intended to become an economic hub, create high-value jobs, and curb youth emigration by attracting businesses in finance, tech, tourism, and green energy. The utilization of the Bitcoin will prioritize capital preservation through risk-managed yield strategies and long-term holding, guided by strong governance. This initiative is part of Bhutan's broader National Bitcoin Development Pledge, leveraging its significant Bitcoin stash, which is largely derived from mining operations. King Jigme Khesar Namgyel Wangchuck emphasized that the project aims for shared national prosperity, with plans for a new land policy to protect landowners and ensure all citizens benefit from the GMC's success over its projected 20-year phased development.
(Source：Cointelegraph)