Bhutan Invests 10,000 BTC in Mindfulness-Centric Economic Development

The Kingdom of Bhutan has advanced its incorporation of bitcoin (BTC) by dedicating a significant portion of its reserves to the establishment of Gelephu Mindfulness City (GMC), a new special administrative region. As announced in a press release to CryptoPotato, the country plans to deploy 10,000 BTC, approximately valued at $1 billion, to aid in the sustained development of GMC. This innovative economic hub is envisioned to foster mindfulness, sustainability, and creativity. During his National Day Address this week, Bhutan’s monarch, His Majesty King Jigme Khesar Namgyel Wangchuck, revealed the Bitcoin Development Pledge, which reflects his intention to use contemporary digital technologies to benefit not only current citizens but also future generations. The nation will explore various strategies to facilitate the ongoing utilization of these assets, including options such as collateralizing their bitcoin holdings, employing yield management approaches, and ensuring asset value retention over the long term. Bhutan is committed to guiding its BTC usage within GMC with careful governance, prioritizing transparency and capital preservation. The focus is to maintain long-term potential while fostering economic growth in a stable and sustainable way. Jigdrel Singay, Board Director at GMC, expressed the notion that Bhutan's Bitcoin holdings are intended for long-term investment, emphasizing the commitment detailed in the Development Pledge. While a specific strategy is still under development, the announcement outlines a range of responsible pathways under consideration, affirming Bhutan’s enduring stewardship of its Bitcoin reserves. In addition to being a mindfulness center, GMC will offer regulatory clarity, financial connectivity, and an environment conducive to long-term collaboration. It will engage with both local and global digital asset entities for partnerships. The country has already integrated digital assets into its strategic reserves and facilitated crypto payments across various services. Furthermore, Bhutan has introduced the TER, a sovereign-backed token linked to physical gold. These initiatives build on Bhutan's history as an early adopter of BTC and digital asset infrastructure, having quietly mined BTC with renewable energy since 2017. As articulated by the King, this commitment aims to ensure that every Bhutanese individual is a custodian, stakeholder, and beneficiary of GMC, emphasizing its significance for the people, youth, and the nation as a whole.