Bhutan allocates 10,000 bitcoins for the development of the Gelephu Mindfulness City

This project, located near the town of Gelephu in southern Bhutan, aims to address the current situation where a large number of young Bhutanese seek employment opportunities abroad. GMC hopes to retain talent by creating high-value jobs domestically and to build a more resilient local economy.

The special administrative zone is designed to support a wide range of industries, including finance, technology, tourism, green energy, healthcare, and agriculture.

According to data published on the project's official website, the development covers an area of approximately 2,600 square kilometers, accounting for about 5% of Bhutan's total land area, highlighting the scale of the project.

Therefore, it will become one of the most ambitious projects in the country's history.

The Strategy Behind the Bitcoin Allocation

The government estimates that the value of this allocation of 10,000 bitcoin is approximately $875 million. However, the authorities are not directly liquidating these assets, but are considering a series of controlled financial measures, including treasury management tools, low-risk yield strategies, and long-term holding plans.

Officials emphasized that maintaining the value of the bitcoin reserves remains a top priority.

In an official statement, the government highlighted the long-term growth potential of bitcoin and stressed that transparency, oversight, and prudent governance will guide all related decisions.

Bhutan's Position Among Global Bitcoin Holders

Bhutan currently ranks fifth among countries in terms of bitcoin holdings, with most of its reserves coming from state-backed mining operations.

Specifically, data from the crypto analytics platform Bitbo estimates that the country holds a total of about 11,286 bitcoin. At current market prices, these bitcoin are worth over $986 million.

This reserve forms the foundation of Bhutan's broader digital asset strategy and underpins Bhutan's ability to leverage bitcoin as a strategic economic tool.

Part of a Broader National Bitcoin Strategy

The decision to use bitcoin to support the Global Monetary Conference aligns with Bhutan's broader commitment to bitcoin development. This national strategy aims to enhance Bhutan's long-term economic resilience by integrating digital assets into national planning and public finance.

Policymakers have consistently described bitcoin as a strategic reserve rather than a short-term financial instrument.

King Jigme Khesar Namgyel Wangchuck has positioned the project as a path to achieving shared prosperity. He stated that this development plan should benefit Bhutan's population of over 796,000 people.

To support this vision, the King outlined a new land policy plan. This policy aims to protect the rights of landowners and prevent the exacerbation of inequality. In this context, he likened GMC to a company, with landowners as shareholders who share in the company's success.

Governance Structure and Project Progress

Key institutional foundations are already in place.For example, the relevant authorities have issued a master plan and legal framework, appointed a board of directors, and named a governor to oversee the development.

Meanwhile, actual construction work has begun, with construction teams clearing and preparing the site.

In addition, the use of cryptocurrency in the region has already begun to take shape. Merchants and tourism service providers in the Damascus area accept cryptocurrency payments. Moreover, the city has also introduced the TER system, a sovereign digital token backed by physical gold.

Looking ahead, GMC is envisioned as an economic corridor connecting South Asia and Southeast Asia. The city is expected to operate with administrative autonomy and legal independence.

The development will proceed in phases. The comprehensive construction is planned to be completed within the next 20 years, which is in line with Bhutan's approach that emphasizes stability, patience, and sustainable development.