Bhutan Pledges Up to 10,000 Bitcoin to Build New Mega-City
Bhutan committed up to 10,000 sovereign bitcoin to support the development of its new Gelephu Mindfulness City.Summary
Bhutan has pledged up to 10,000 bitcoin, valued between $860 million and $1 billion, to support the long-term development of the Gelephu Mindfulness City (GMC), a special administrative region in southern Bhutan.
The allocation is intended for long-term capital preservation, with financing for infrastructure expected to come from mechanisms like collateralized lending and treasury strategies, rather than immediate asset sales. King Jigme Khesar Namgyel Wangchuck framed this as a generational investment for the nation's youth, aiming to create quality jobs.
GMC is central to Bhutan's plan to diversify its economy beyond hydropower and tourism, focusing on finance, technology, and green energy. Bhutan's bitcoin reserves originated from state-backed mining operations using surplus hydroelectric energy, positioning the country as a significant sovereign holder.
(Source：Bitcoin Magazine)