Gelephu Mindfulness City: Adoption of Digital Assets

Gelephu Mindfulness City (GMC), located in Bhutan’s Special Administration Region, has announced its plans to adopt digital assets including bitcoin, ether, and BNB as part of its strategic reserves.

Once implemented, this SAR would be among the first jurisdictions to officially hold cryptocurrencies in its strategic reserve. This initiative aims to enhance GMC’s economic resilience and build on its existing commitments to bitcoin mining.

This sustainable urban development project, envisioned by King Jigme Khesar Namgyel Wangchuck, spans over 2,500 square kilometers near the India-Bhutan border. GMC aims to serve over two billion people in the region with a focus on promoting blockchain technology.

While specific cryptocurrencies beyond BTC, ETH, and BNB have not been named, GMC stated it plans to recognize digital assets with large market capitalizations and deep liquidity to facilitate easy and minimal price impact trading. The SAR will prioritize digital assets issued on secure blockchains to support transaction monitoring.

GMC’s announcement follows its Application of Laws Act enacted in December, which provided the legal framework for companies in GMC to offer digital asset financial services.

In March, GMC will host a global high-level meeting to discuss the recognition of digital assets as strategic reserves with senior government officials and industry leaders.

Bhutan’s Bitcoin Holdings

Bhutan is the fifth-largest known nation-state holder of bitcoin, with 12,211 BTC valued at approximately $1.2 billion. It ranks behind the United States, China, the United Kingdom, and Ukraine, according to Bitcoin Treasuries data. Unlike other nations that often acquire bitcoin through criminal seizures, Bhutan has mined the cryptocurrency using its abundant hydroelectric power for environmentally friendly operations.

The announcement from GMC also comes amid speculation regarding other nation-states acquiring bitcoin to preemptively build their own reserves following U.S. President-elect Donald Trump’s campaign pledge to establish a national bitcoin stockpile.