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Bhutan is set to tap into its significant Bitcoin reserves to support the development of the Gelephu Mindfulness City (GMC), a project launched to transform the southern region of the country into a thriving economic hub. The $875 million initiative aims to create high-value local jobs and stem the outflow of young Bhutanese seeking opportunities abroad. GMC, which spans 1,544 square miles, will serve as a special administrative region designed to attract global businesses in sectors such as finance, tourism, green energy, technology, healthcare, and agriculture.
The strategic use of Bitcoin from the country’s stash reflects Bhutan’s vision of integrating digital currency into its long-term economic development. The nation holds around 11,286 Bitcoin, making it the fifth-largest holder among countries. These funds, largely accumulated through mining operations, will be deployed cautiously. A combination of yield management strategies and long-term holding plans will ensure Bitcoin’s value is preserved for future generations. The government’s emphasis on strong governance, oversight, and transparency underscores its commitment to sound financial management.
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Gelephu Mindfulness City is designed to foster innovation and economic growth while enhancing the country’s standing in the global digital economy. By integrating Bitcoin-based solutions into its infrastructure, the GMC seeks to attract crypto and fintech companies, providing them with regulatory flexibility. This initiative positions Bhutan as a key player in the digital finance world, with Bitcoin serving as both a store of value and a tool for sustainable development.
The kingdom’s unique approach aligns with its broader Bitcoin Development Pledge, which aims to harness the potential of digital currencies and mining to bolster Bhutan’s economy. With the support of a new land policy and legal framework, the city is set to operate as an independent economic zone, with profits benefiting landowners across Bhutan.
Moreover, GMC’s vision extends beyond economic transformation. The project is designed as an economic corridor linking South Asia to Southeast Asia, positioning Bhutan as a bridge between two rapidly growing regions. Over the next 20 years, GMC will be developed in phases, incorporating cutting-edge technology and sustainable development practices.
The use of Bitcoin in this context highlights Bhutan’s innovative approach to economic development, blending traditional resources with modern financial tools. By ensuring capital preservation and prudent management, the government aims to make the most of its digital assets while supporting the growth of the Gelephu Mindfulness City.
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The post Bhutan’s Bold Move: Bitcoin to Fund Gelephu Mindfulness City Development appeared first on 36Crypto.
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