Gelephu Mindfulness City (GMC), a special administrative region in Bhutan, has announced that Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) will now be part of its strategic reserve. This move places the GMC among the first jurisdictions to officially recognize digital assets as part of its economic strategy.
The selection of digital assets will be based on criteria such as high market capitalization and significant liquidity. This will ensure ease of buying and selling, with minimal impact on prices during transactions. Furthermore, the chosen assets will be those issued on consolidated and secure blockchains, allowing for transparent on-chain transaction monitoring, a measure that reinforces trust and security in the use of these emerging technologies.
This initiative is part of a larger project to transform GMC into an economic, technological, and sustainable hub. The city, envisioned as a model of modern and sustainable urbanism, will be powered by 100% renewable energy from Bhutan’s vast hydropower resources. Construction will take place in phases over 21 years, connecting the economies of South and Southeast Asia and creating opportunities for economic integration in the region.
The GMC is also promoting a regulatory environment that is conducive to the development of businesses related to digital assets. In December 2024, specific legislation was passed that establishes legal guidelines for companies operating in the cryptocurrency sector. This legal framework is a crucial step towards consolidating the region as a hub for technological innovation and blockchain.
The Bhutanese government, through Druk Holding and Investments (DHI), already has a significant stake in the cryptocurrency market, with 11.688 BTC, valued at approximately $1,12 billion, as well as 656 ETH. These assets were acquired in part through local Bitcoin mining operations, reinforcing the country’s involvement in this growing sector.
In March, the GMC will bring together government officials and global industry leaders to discuss the next steps for this initiative. The focus will be on expanding the strategic reserve and forming an international advisory panel specializing in digital assets.
The decision to diversify GMC’s strategic reserve beyond Bitcoin demonstrates the region’s vision to adopt a modern and resilient approach to the digital economy, leveraging the opportunities offered by cryptocurrencies while strengthening its position on the global stage.
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