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Bhutan has committed 10,000 BTC, worth about $1 billion, to help develop Gelephu Mindfulness City, a new special administrative area. The country will use its own cryptocurrency reserves for the project without selling any assets. Instead, Bhutan will focus on sustainable methods and holding onto its bitcoin in the long term to support infrastructure growth.
The announcement, made during a public appearance, reveals that the plan supports the country’s goal of promoting happiness while creating jobs and reducing youth emigration in the Himalayan region.
Bhutan committed 10,000 BTC to the Gelephu Mindfulness City as part of its national Bitcoin Development Pledge. The news focuses on protecting the treasury by using risk-managed yields rather than selling assets. Bhutan currently holds about 11,286 BTC, mostly acquired through state-run operations that rely heavily on hydroelectric power.
The initiative positions the country among the top global sovereign holders, trailing nations like the United States. The pledge shows that the country’s ruling monarch, His Majesty King Jigme Khesar Namgyel Wangchuck, supports Bhutan’s goal to use modern digital technologies carefully and responsibly. Commenting on the initiative in his National Day address, the king said:
“As your King, I must ensure that every Bhutanese is a custodian, stakeholder, and beneficiary of GMC. […] Since most land is state-owned, Bhutanese from all Dzongkhags will share in its success. To support this policy, I am announcing today the allocation of up to 10,000 BTC, valued at approximately USD 1 billion. This commitment is for our people, our youth, and our nation.”
Gelephu Mindfulness City, located in southern Bhutan, covers over 1,000 square kilometers. It is a special administrative region with flexible rules. King Wangchuck created the GMC to combine Bhutanese culture with modern, sustainable practices and to promote Gross National Happiness. The master plan aims to connect South and Southeast Asia economically.
Key features include infrastructures that focus on community needs. The design emphasizes biodiversity, with urban areas flowing from the Himalayan peaks to tropical regions. The city plans to attract innovative businesses through green technology and financial technology incentives. It also integrates hydroelectric elements with temples to combine culture and functionality.
Flexible regulations will welcome crypto companies while maintaining transparency. The project aims to set a global standard for responsible urban development. Bhutan sees this city as a center of harmonious innovation, with long-term goals focused on resilience in a changing world.
The post Bhutan Unveils $1B Bitcoin Plan for Mindfulness City appeared first on CoinTab News.
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