Bhutan Allocates 10,000 Bitcoin to Develop Gelephu Mindfulness City – Crypto News

The Kingdom of Bhutan says it will tap into 10,000 Bitcoin from its stash to help build its special administrative region, the Gelephu Mindfulness City (GMC).

Located in the town of Gelephu in Southern Bhutan, GMC was launched in 2024 as Bhutan’s new economic hub to stop the exodus of young Bhutanese from the country by creating high-value local jobs.

It is designed to attract businesses in various sectors, including finance, tourism, green energy, technology, healthcare, and agriculture.

The city offers regulatory flexibility for crypto and fintech firms and serves as a space to further Bhutan’s Bitcoin mining. It covers roughly 10% of Bhutan, or around 1,544 square miles, according to its website. 

How Bitcoin will be used to fund Bhutan’s GMC

A range of measures is being considered for the $875 million in Bitcoin (BTC), including risk-managed yield and treasury strategies and long-term holding plans designed to preserve and protect the value of the stash, the country said on Wednesday.