The Bitcoin Development Pledge is in line with the King’s vision to apply modern digital technologies to serve the people of Bhutan and future generations.
The Kingdom of Bhutan has taken bitcoin (BTC) adoption a step further by allocating part of its reserves to develop its new Special Administrative Region, Gelephu Mindfulness City (GMC).
This is evident from a press release sent to CryptoPotatothe country will channel 10,000 BTC, worth approximately $1 billion, to support GMC’s long-term development. GMC is a new economic center designed for mindfulness, sustainability and innovation.
Bhutan Unveils Bitcoin Development Pledge
The Ruler of Bhutan, His Majesty King Jigme Khesar Namgyel Wangchuck, unveiled the Bitcoin Development Pledge through his National Day Address earlier this week. The commitment is in line with the King’s vision to apply modern digital technologies to serve the people of Bhutan and future generations.
The country will assess different approaches that will enable the long-term use of the pledged assets. The options being considered include collateralizing the Kingdom’s bitcoin holdings, implementing yield management strategies and preserving the value of assets while holding them for the long term.
Bhutan will guide any use of BTC in the GMC with prudence and strong governance, ensuring transparency and capital preservation. The country will prioritize preserving its long-term potential while developing its economic center in a stable and sustainable manner.
Commenting on the approach, JGDrel Singay, Board Director at GMC, said: “Bhutan’s position is that its Bitcoin holdings are for the long term, and that commitment is clearly reiterated in the Development Pledge. The specific strategy is still a work in progress, and the examples mentioned in the announcement outline the range of responsible options being considered. There is no change in Bhutan’s long-term stewardship approach to its Bitcoin reserves.”
GMC is powered by digital infrastructure
In addition to being a mindfulness hub, GMC will also provide regulatory clarity, financial connectivity and a long-term environment for collaboration. The hub is open to partnerships from both local and international digital asset entities. Bhutan has already integrated digital assets into the hub’s strategic reserves and enabled crypto-based payments for all services. The Kingdom has also launched TER, a state-backed token pegged to physical gold.
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These efforts build on the country’s track record as an early adopter of BTC and digital asset infrastructure. Since 2017, Bhutan has been quietly mining BTC using clean energy.
“As your King, I must ensure that every Bhutanese is custodian, stakeholder and beneficiary of GMC… This commitment is for our people, our youth and our nation,” the Ruler of Bhutan stated.
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