Bhutan’s Gelephu Mindfulness City (GMC) has unveiled plans to include Bitcoin, Ethereum, and BNB in its strategic reserve assets, according to a Jan. 8 statement.
This decision marks a significant milestone as GMC becomes one of the first Special Administrative Regions (SARs) to incorporate digital assets into its reserves.
GMC emphasized its preference for digital assets with high market capitalizations and deep liquidity. These criteria ensure seamless trading with minimal price disruptions. Additionally, the city plans to focus on assets issued on secure blockchains that support transparent on-chain transaction monitoring.
The initiative aims to strengthen the city’s economic resilience and build on its involvement in Bitcoin mining.
Binance CEO Richard Teng said:
“Congratulations to Bhutan for leading the way in crypto innovation! This forward-thinking approach to blockchain adoption sets a powerful example for the world.”
GMC?
The King of Bhutan, Jigme Khesar Namgyel Wangchuck, envisioned GMC as a model of sustainable urban living that combines Bhutanese traditions with modern mindfulness and technological advancement principles. GMC will be powered entirely by renewable energy, primarily leveraging Bhutan’s abundant hydroelectric resources
The city is situated on a strategic land bridge between South Asia’s booming economies and 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.
According to its website, the city aims to become a central hub for digital innovation and blockchain technology. It has begun efforts in that regard, 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. The agenda includes discussions on integrating digital assets into strategic reserves and forming an international advisory panel on digital assets.
Bhutan’s broader Bitcoin strategy
Beyond GMC’s efforts, 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.
This places Bhutan fifth globally among countries holding Bitcoin, following the United States, China, the United Kingdom, and Ukraine.
The government utilizes major mining pools like AntPool, Braiins, and Foundry, supported by its affordable and clean hydropower.
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