Key Takeaways
- Bhutan has pledged up to 10,000 BTC to support the long-term development of Gelephu Mindfulness City.
- The initiative leverages surplus hydroelectric power for Bitcoin mining, aiming to create jobs and foster financial resilience.
Bhutan has committed up to 10,000 BTC, worth approximately $1 billion, to support the long-term growth of Gelephu Mindfulness City (GMC), the country’s flagship nation-building project and future economic hub, according to a statement released on Wednesday.
Under the pledge, Bhutan will allocate Bitcoin produced using excess clean energy to support long-term infrastructure financing, partnership development, and national financial resilience.
The initiative, led by King Jigme Khesar Namgyel Wangchuck, leverages digital assets to enhance economic resilience, create quality employment opportunities, and develop youth skills as part of the GMC program.
Bhutan, via Druk Holding & Investments (DHI), has built sizable Bitcoin reserves through state-backed mining operations.
Gelephu Mindfulness City has outlined plans to include major digital assets such as Bitcoin, Ethereum, and BNB in its strategic reserves, making it an early adopter of holding crypto at the jurisdictional level.
Source: https://cryptobriefing.com/bhutan-bitcoin-development-pledge/
