The Kingdom of Bhutan has mobilized 10,000 Bitcoin reserves to invest in the development of a digitally-driven mindfulness economic special zone.
Recently, the Kingdom of Bhutan announced that it would allocate 10,000 Bitcoins (worth approximately $1 billion) from its national reserves to inject into its newly planned 'Gleipnir Mindfulness City' as a long-term development fund for this new economic center.
This significant initiative was personally announced by King Jigme Khesar Namgyel Wangchuck of Bhutan during his speech at the National Day celebration last week.
This move aligns closely with the vision of the King of Bhutan to 'use modern digital technology to serve the people and the future,' marking another deepening of the country's strategy on digital asset application in this Himalayan nation.
Looking back at its exploration of digital assets, Bhutan has been using its abundant clean energy for Bitcoin mining since 2017, and this commitment is not a temporary measure but an extension of its long-term national policy.
The core management plan for this approximately $1 billion worth of Bitcoin includes: utilizing assets as compliant collateral to activate funds, implementing a prudent yield strategy under controllable risks, and promoting value preservation operations based on long-term holding.
The country also emphasized that all fund usage will adhere to strong governance principles, prioritizing the long-term security and value stability of capital to ensure the sustainable development of the economic center.
The 'Gleipnir Mindfulness City' is not only positioned as a center for promoting physical and mental health and innovation but is also regarded as a special administrative zone driven by digital infrastructure.
The center will provide a clear regulatory framework for digital assets and convenient financial connections, open for global cooperation with digital asset entities.
As a strategic complement, Bhutan has enabled cryptocurrency payments in this center and issued a sovereign-backed token 'TER' pegged to physical gold.
In summary, this series of initiatives clearly outlines Bhutan's ambition to base itself on traditional mindfulness values while combining its sustainable energy advantages with cutting-edge digital technology to shape the future economic landscape;
And Bhutan's measure of directly linking Bitcoin reserves with the development of the real economy highlights its exploration of a unique development path for sovereign nations systematically using digital assets.
