Bhutan says it will tap 10,000 bitcoin from its national stash to help fund the Gelephu Mindfulness City (GMC), a special administrative region in southern Bhutan.
GMC was launched in 2024 as a new economic hub aimed at creating high-value jobs and reducing youth emigration.
What the project is
The city is designed to attract businesses across finance, tourism, green energy, technology, healthcare, and agriculture.
GMC’s framework includes regulatory flexibility for bitcoin-focused firms and a mandate to expand Bhutan’s bitcoin mining.
The project covers about 10% of Bhutan, or roughly 1,544 square miles.
How Bhutan plans to use the bitcoin
Bhutan said the roughly $875 million allocation may be deployed through measures including “risk-managed yield” and treasury strategies, alongside long-term holding plans.
The government said the priority is preserving bitcoin’s long-term potential while ensuring development proceeds “stably and sustainably.”
It added:
“Any use of Bitcoin will be guided by strong governance and prudence, with an emphasis on capital preservation, appropriate oversight, and transparency.”
Size of Bhutan’s holdings
Bitbo estimates Bhutan holds about 11,286 bitcoin, worth more than $986 million, making it the fifth-largest known holder among countries.
For a broader view of sovereign holdings, see Bitbo’s tracker of countries holding bitcoin.
National policy and timeline
The plan sits within Bhutan’s Bitcoin Development Pledge, which aims to support long-term economic development through national bitcoin holdings and mining.
King Jigme Khesar Namgyel Wangchuck said the goal is for Bhutan’s population of 796,682 to benefit from GMC.
He said:
“Think of GMC as a company and landowners as its shareholders. Since most land is state-owned, Bhutanese from all Dzongkhags will share in its success.”
A masterplan and legal framework were unveiled in 2024, and the city is expected to be built in phases over the next 20 years.
