The Kingdom of Bhutan has made a significant commitment to economic innovation by allocating 10,000 BTC, valued at approximately $1 billion, for the development of the new Gelephu Mindfulness City (GMC). This initiative aligns with the vision of King Jigme Khesar Namgyel Wangchuck, who emphasized the importance of integrating modern digital technologies to benefit the people of Bhutan and future generations. The announcement was made during the king’s National Day Address earlier this week.
Gelephu Mindfulness City is conceptualized as a special administrative region focused on mindfulness, sustainability, and innovation. The government plans to explore various strategies for utilizing the pledged Bitcoin to ensure long-term benefits. Options under consideration include collateralizing the Kingdom’s bitcoin holdings, implementing yield management strategies, and maintaining asset value through prudent long-term holding.
As stated by Jigdrel Singay, Board Director at GMC, Bhutan’s strategy emphasizes a commitment to long-term stewardship of its Bitcoin reserves. “The specific strategy is still being worked on, and the examples mentioned in the announcement outline the range of responsible options under consideration,” Singay remarked. He also highlighted that the nation’s approach will be guided by strong governance, ensuring transparency and the preservation of capital.
The establishment of GMC is not only aimed at promoting mindfulness but also at offering regulatory clarity and financial connectivity. The hub seeks to create an environment conducive to collaboration with both local and international digital asset entities. Bhutan has already integrated digital assets into GMC’s strategic reserves and initiated crypto-based payment systems across services.
This latest move builds on Bhutan’s reputation as one of the early adopters of Bitcoin and digital asset infrastructure. Since 2017, the country has steadily embraced cryptocurrency, aiming to position itself at the forefront of the digital economy. The king reinforced this commitment during his address, stating, “As your King, I must ensure that every Bhutanese is a custodian, stakeholder, and beneficiary of GMC. This commitment is for our people, our youth, and our nation.”
The establishment of the Gelephu Mindfulness City represents a visionary step towards a future where digital technology serves the greater good, fostering an economy that prioritizes mindfulness and sustainability. As Bhutan embarks on this ambitious project, it sets a precedent for how nations can harness the potential of cryptocurrency in developing innovative economic frameworks.
