Bhutan’s Gelephu Mindfulness City (GMC), a Special Administrative Region, has announced plans to incorporate major cryptocurrencies—Bitcoin (BTC), Ether (ETH), and BNB—into its strategic reserves. This initiative aims to enhance economic resilience and capitalize on opportunities arising from Bitcoin mining activities.
Unlike other jurisdictions focusing solely on Bitcoin, GMC intends to diversify its reserves by including multiple established digital assets. The administration emphasizes selecting cryptocurrencies with large market capitalizations and deep liquidity to ensure ease of transactions with minimal price impact.
This development follows Bhutan’s issuance of a $100 million bond in November 2024 to fund the GMC project, envisioned as an economic corridor linking South Asia to Southeast Asia. The project is set to be completed over 21 years, reflecting the nation’s commitment to integrating digital assets into its economic framework.
Notably, Bhutan’s government, through Druk Holding and Investments (DHI), already holds significant cryptocurrency assets, including approximately 11,688 BTC and 656 ETH. DHI has been involved in Bitcoin investments since at least 2019, leveraging local mining operations and collaborations with major crypto mining firms like Bitdeer.
