Bhutan will allocate up to 10,000 BTC for the development of the Gelephu City of Awareness…

The Kingdom of Bhutan will allocate up to 10,000 BTC (about $1 billion) for the development of the city of awareness Gelephu, a new economic hub in the south of the country. The project is designed to stop the outflow of young people and attract business to finance, technology, green energy and tourism.

The authorities emphasise that they do not plan to sell bitcoins. Reserves will be used as long-term capital - to preserve value, obtain profitability and support the growth of the city.

Currently, Bhutan is the seventh largest sovereign owner of bitcoins in the world.

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