Bhutan’s Gelephu Mindfulness City to Incorporate Bitcoin, Ethereum, and BNB in Strategic Reserves
Bhutan’s Gelephu Mindfulness City (GMC) has announced plans to include Bitcoin, Ethereum, and BNB in its strategic reserve assets, marking a significant milestone as one of the first Special Administrative Regions (SARs) to incorporate digital assets into its reserves, according to a statement released on Jan. 8.
The decision to include digital assets in its reserves comes as GMC emphasizes its preference for assets with high market capitalizations and deep liquidity. This strategic move aims to ensure seamless trading with minimal price disruptions and focuses on assets issued on secure blockchains that support transparent on-chain transaction monitoring.
The incorporation of Bitcoin, Ethereum, and BNB into its reserves is part of GMC’s initiative to strengthen the city’s economic resilience and build on its involvement in Bitcoin mining.
Binance CEO Richard Teng congratulated Bhutan for its forward-thinking approach to blockchain adoption, stating that it sets a powerful example for the world.
About GMC
GMC, envisioned by the King of Bhutan, Jigme Khesar Namgyel Wangchuck, aims to be a model of sustainable urban living that combines Bhutanese traditions with modern mindfulness and technological advancement principles. The city will be powered entirely by renewable energy, primarily leveraging Bhutan’s abundant hydroelectric resources.
Situated on a strategic land bridge between South Asia’s booming economies, GMC is well-positioned to serve over two billion people in the region. The project is expected to be completed in 21 years, with the first phase accommodating about 150,000 people.
GMC aims to become a central hub for digital innovation and blockchain technology, as evidenced by the enactment of new digital asset laws in December. These regulations establish a legal framework for businesses involved in digital assets and create a structured environment for innovation.
In March, GMC will host a meeting with senior officials and industry leaders in Bhutan to discuss integrating digital assets into strategic reserves and forming an international advisory panel on digital assets.
Bhutan’s Bitcoin Strategy
Bhutan is setting an example for developing nations by leveraging Bitcoin mining to boost its economy. On-chain data from Arkham Intelligence reveals that Druk Holding and Investments, Bhutan’s sovereign investment arm, holds $1.12 billion worth of Bitcoin, placing Bhutan fifth globally among countries holding Bitcoin.
The government utilizes major mining pools like AntPool, Braiins, and Foundry, supported by its affordable and clean hydropower.