Bhutan has announced a bold plan to use up to 10,000 Bitcoin from its national reserves. This cryptocurrency, worth nearly $1 billion, will fund the creation of a new project called ‘Mindfulness City.’
Currently, Bhutan holds around 11,286 BTC, making it one of the largest state holders of Bitcoin in the world. Therefore, this move will use most of its holdings, signaling a strong commitment to the project.
A Vision for Mindfulness
The government says Mindfulness City will combine urban development with well-being. Bhutan is famous for its focus on Gross National Happiness, which measures the happiness of its citizens instead of only economic growth.
For example, the city will include meditation centers, green spaces, and cultural landmarks. Moreover, the Bitcoin funding will support infrastructure, technology, and urban planning. This way, the project aligns with Bhutan’s long-term vision for a mindful and sustainable lifestyle.
Bhutan’s Bitcoin Strategy
Bhutan’s Bitcoin reserves have grown steadily over the years. With over 11,000 BTC, the country is now among the top government holders globally. However, using 10,000 BTC for a development project is unusual.
Yet, experts say it reflects Bhutan’s focus on long-term societal benefits rather than short-term profits. Bitcoin’s price can fluctuate, which means the value of these coins could rise or fall. Nevertheless, the government believes the potential impact of Mindfulness City outweighs the risk.
Innovative Use of Bitcoin for National Projects
Few countries have considered spending Bitcoin directly on government projects. While El Salvador adopted Bitcoin as legal tender, Bhutan’s approach is unique. Instead, it links cryptocurrency use to well-being and social development rather than currency adoption.
In addition, this Bhutan Bitcoin project could inspire other nations to explore innovative ways to use digital assets for public projects. Consequently, Bhutan may become a model for integrating cryptocurrency with social and urban initiatives.
Bitcoin Beyond Investment: Bhutan’s Vision
Bhutan Bitcoin project is to start developing Mindfulness City in the coming years. If successful, the project could show how Bitcoin and other digital assets can support national development and public welfare.
Overall, Bhutan is proving that cryptocurrency is not just an investment tool. Instead, it can help fund visionary projects that combine technology, culture, and well-being for the benefit of society.
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