Bhutan’s new administration region, Gelephu Mindfulness City, is making headlines for its bold decision to include Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) in its strategic reserves. This pioneering initiative positions the region as one of the first to officially embrace digital currencies in its financial strategy.
In a press release dated January 8, GMC announced that this move is aimed at “enhancing the SAR’s economic resilience.” Furthermore, it marks a significant step in the region’s ongoing involvement in Bitcoin mining. With a forward-thinking strategy, Gelephu Mindfulness City is set to lead in the adoption of digital currencies alongside other innovative economic practices.
The region intends to focus on cryptocurrencies that boast “large market capitalizations and deep liquidity,” which allows for seamless trading. GMC’s commitment extends to selecting assets that operate on “more mature, secure blockchains,” ensuring efficient monitoring of on-chain transactions.
Situated in Bhutan’s southern plains, Gelephu Mindfulness City occupies a strategic location that connects with the rapidly developing economies of South Asia. This decision follows the recent implementation of the “Application of Laws Act 2024,” which establishes a regulatory framework for digital asset services. Local officials anticipate this legal backing will “bolster the growth of the digital asset ecosystem” within a well-regulated setting.
A pivotal event is set for March, where GMC will host a global meeting with government representatives and industry experts to explore the use of digital assets in strategic reserves, according to the press release.
Bhutan has been actively investing in cryptocurrencies, currently holding over $1 billion in Bitcoin, fueled by a significant price surge in November 2024. This is not Bhutan’s first foray into crypto; the nation has been making strategic investments for years. Notably, in May 2023, it allocated 5% of its gross domestic product (GDP) towards Bitcoin mining and partnered with miners to expand its digital asset holdings.
The decision by Gelephu Mindfulness City marks an important milestone for Bhutan, reflecting a commitment to economic self-reliance through thoughtful integration of cryptocurrencies.
