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Bhutan allocates 10,000 BTC to develop GMC, boosting jobs and retaining youth.
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GMC integrates crypto, fintech, renewable energy, tourism, and gold-backed tokens.
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Development spans 20 years, balancing national wealth, equity, and innovation.
The Kingdom of Bhutan has announced plans to use 10,000 Bitcoin—worth nearly $1 billion—from its national reserves to build the Gelephu Mindfulness City (GMC). The city aims to create good-paying jobs and keep young people from leaving the country for work elsewhere.
As per the press release, this benefits all 796,682 residents, according to King Jigme Khesar Namgyel Wangchuck. With a land area covering 1,544 square miles or 10% in Bhutan’s entire area, this urban center shall evolve into a hub or center for renewable energy, business, tourism, technologies, health, and agriculture.
GMC was launched in 2024 as a strategic initiative to combine economic growth with innovative governance. The city also offers regulatory flexibility for crypto and fintech firms and plans to expand Bhutan’s Bitcoin mining operations.
Additionally, the project introduces crypto-based payments across merchants and tourism services and has launched TER, a sovereign-backed digital token linked to physical gold.
Consequently, GMC is designed as an economic corridor connecting South Asia to Southeast Asia, with executive autonomy and legal independence. The masterplan and legal framework are in place, while construction has started to prepare the site.
Strategic Use of Bitcoin Reserves
Bhutan currently holds around 11,286 BTC, making it the fifth-largest national holder globally. The government stated that the $875 million in Bitcoin allocated for GMC will follow risk-managed yield strategies, treasury planning, and long-term holding plans to protect and grow the value.
“Bitcoin’s enduring strength lies in its ability to compound value over time,” officials said. Moreover, governance measures emphasize transparency, capital preservation, and prudent oversight.
The city’s land policy also focuses on equity, protecting landowners and preventing wealth disparities. King Wangchuck explained, “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.” Over the next 20 years, the stepwise development is anticipated to take place, providing a sustainable growth model that strikes a balance between national wealth and innovation.
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