Bhutan’s Gelephu Mindfulness City is set to establish a cryptocurrency reserve, aiming to enhance economic resilience and innovation.
Strategic Crypto Reserve Initiative
Gelephu Mindfulness City (GMC), Bhutan’s special economic hub, announced plans to include Bitcoin, Ether, and BNB in its strategic reserves. This initiative focuses on economic stability and exploring opportunities in Bitcoin mining.
Diverse Crypto Holdings
Unlike jurisdictions favoring Bitcoin-only reserves, GMC plans to diversify with high-cap cryptocurrencies for liquidity and stability. It will prioritize assets on secure, mature blockchains to facilitate efficient monitoring of transactions.
A Long-Term Vision
The GMC project, envisioned as a key economic corridor linking South and Southeast Asia, will be built in phases over 21 years. A $100 million bond was issued in November 2024 to kickstart its development.
Bhutan’s Existing Crypto Portfolio
Bhutan already holds significant crypto assets through Druk Holding and Investments (DHI), including over $1.1 billion in Bitcoin and other digital currencies. These holdings stem from mining operations and investments in crypto lending platforms like BlockFi and Celsius.
Global and Local Collaboration
GMC plans to discuss its crypto reserve strategy with senior government officials and industry leaders in March, signaling Bhutan’s intent to position itself as a regional crypto hub.
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