Bhutan’s Gelephu Mindfulness City (GMC) has unveiled plans to include Bitcoin, Ethereum and BNB in its strategic reserves, according to a January 8 report. statement.
This decision marks a significant milestone as GMC becomes one of the first Special Administrative Regions (SARs) to include digital assets in 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 progressive approach to blockchain adoption sets a powerful example for the world.”
GMC?
The King of Bhutan, Jigme Khesar Namgyel Wangchuck, saw 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 utilizing Bhutan’s abundant hydropower resources
Located on a strategic land bridge between South Asia’s booming economies, the city is well positioned to serve more than two billion people in the region. The project is expected to be completed within 21 years first phase can accommodate approximately 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 create a legal framework for companies 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 Wider Bitcoin Strategy
In addition to GMC’s efforts, Bhutan is setting an example for developing countries by using Bitcoin mining to boost its economy.
On a chain facts from Arkham Intelligence reveals that Druk Holding and Investments, Bhutan’s sovereign investment arm, holds $1.12 billion worth of Bitcoin.
This places Bhutan as the fifth largest Bitcoin-owning country globally, after the United States, China, the United Kingdom and Ukraine.
The government uses large mining pools such as AntPool, Braiins and Foundry, backed by affordable and clean hydropower.
