Bitcoins
The Bitcoin Development Pledge aligns with the king’s vision of applying modern digital technologies to serve the people of Bhutan and future generations.
The Kingdom of Bhutan has taken its adoption of bitcoin (BTC) a step further by allocating a portion of its reserves to the development of its new special administrative region, Gelephu Mindfulness City (GMC).
According to a press release sent to CryptoPotato, the country will channel 10,000 BTC, worth roughly $1 billion, to support the long-term development of GMC. GMC is a new economic hub designed for mindfulness, sustainability, and innovation.
Bitcoins Bhutan Unveils Bitcoin Development Pledge
Bhutan’s ruler, His Majesty King Jigme Khesar Namgyel Wangchuck, unveiled the Bitcoin Development Pledge via his National Day Address earlier this week. The commitment aligns with the king’s vision of applying modern digital technologies to serve the people of Bhutan and future generations.
The country will assess several approaches that would enable the long-term use of the pledged assets. The options under consideration include collateralising the Kingdom’s bitcoin holdings, implementing yield management strategies, and preserving asset value while holding them long-term.
Bhutan will guide any use of BTC in the GMC by prudence and strong governance, ensuring transparency and capital preservation. The country will prioritize preserving long-term potential while developing the economic hub in a stable and sustainable manner.
Jigdrel Singay, Board Director at GMC, commented on the approach, saying: “Bhutan’s position is that its Bitcoin holdings are intended for the long term, and that commitment is reiterated clearly in the Development Pledge. The specific strategy is still being worked on, and the examples mentioned in the announcement outline the range of responsible options under consideration. There is no change to Bhutan’s long-term stewardship approach toward its Bitcoin reserves.”
Bitcoins GMC to be Powered by Digital Infrastructure
Besides being a mindfulness hub, GMC will also provide regulatory clarity, financial connectivity, and a long-term environment for collaboration. The hub is open to partnerships from both local and international digital asset entities. Bhutan has already integrated digital assets into the hub’s strategic reserves and enabled crypto-based payments across services. The Kingdom has also launched TER, a sovereign-backed token linked to physical gold.
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These efforts build on the country’s track record of being one of the earliest adopters of BTC and digital asset infrastructure. Since 2017, Bhutan has quietly been mining BTC using clean energy.
“As your King, I must ensure that every Bhutanese is a custodian, stakeholder, and beneficiary of GMC…This commitment is for our people, our youth, and our nation,” Bhutan’s ruler stated.
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Mandy Williams Read More