Himalaya gold. The Kingdom of Bhutan announced on Wednesday its intention to use a substantial portion of its sovereign Bitcoin reserves to finance the development of the Gelephu Mindfulness City (GMC). This special administrative region project is the cornerstone of the country's new economic growth strategy.
Key points of this article:
Bhutan has used its sovereign Bitcoin reserves to finance the Gelephu Mindfulness City.
The project aims to create an innovation hub to generate jobs and curb youth emigration.
An economic hub funded by sovereign Bitcoin mining
The GMC project, launched in 2024, spans approximately 1,544 square miles, or nearly 10% of the country's total area. The main objective of King Jigme Khesar Namgyel Wangchuck is to create an innovation hub capable of generating high-value jobs to curb the exodus of Bhutanese youth.
The city will benefit from legal autonomy and increased regulatory flexibility, especially for businesses in the cryptocurrency and fintech sectors. The site already anticipates the integration of digital asset payments for merchants and tourism services, as well as the launch of TER, a sovereign digital token backed by physical gold.
The Gelephu Mindfulness City (GMC) project communicates its recent decisions – Source: X Account
875 million dollars for sustainable growth
To support this development, estimated at several hundred million dollars, the government plans to draw from its stock of 10,000 BTC, valued at approximately 875 million dollars. Bhutan currently ranks fifth in the world among Bitcoin-holding states, a reserve primarily built through its national mining operations powered by hydroelectric energy.
The management of these funds will be governed by the Bitcoin Development Pledge, a strict governance policy focused on preserving long-term capital. Rather than a massive sale, the kingdom is considering yield strategies and multi-year holding plans to ensure funding stability.
The GMC project must be built in phases over the next twenty years, positioning Bhutan as a pioneer in integrating Bitcoin into public development policies.
