Bhutan Pledges $1B in Bitcoin to Support Gelephu Mindfulness City Development
Bhutan commits up to 10,000 bitcoin, valued around $860 million, to fund the development of the Gelephu Mindfulness City.Summary
The Himalayan kingdom of Bhutan has unveiled a national Bitcoin Development Pledge, allocating up to 10,000 BTC (valued near $860 million) to support the development of the Gelephu Mindfulness City. This move positions bitcoin as a strategic national asset, with officials exploring deployment methods like collateralization or treasury strategies to fund the project while preserving value. Gelephu Mindfulness City is a special administrative region designed to utilize digital assets for its financial reserves as part of Bhutan's broader blockchain strategy to diversify its economy. Bhutan, an early sovereign bitcoin miner using surplus hydropower, plans to continue mining sustainably and integrate this digital finance push with national digital identity and crypto-enabled payments.
(Source：CoinDesk)