- Bhutan’s Gelephu SAR adds Bitcoin and Ether to its $1.1 billion strategic reserves.
- Gelephu Mindfulness City aims to complete its build by 2045, enhancing regional economic ties.
- Bhutan hosts 11,688 BTC and 656 ETH, boosting its economic resilience through cryptocurrency.
The Gelephu Special Administrative Region, or Gelephu Mindfulness City (GMC) of Bhutan, has announced incorporating digital currencies like Bitcoin (BTC), Ether (ETH), and Binance Coin (BNB) into the country financial reserves. This decision is a breakthrough in the country’s economic system, adding cryptocurrency to the list of assets. Using digital currencies could help GMC improve its economic stability and diversify its economic status as a regional financial center.
Gelephu Mindfulness City plans to include cryptocurrencies with large market capitalizations and deep liquidity, ensuring easy trade with minimal price fluctuations. Unlike other jurisdictions focusing on Bitcoin alone, GMC intends to diversify its reserves by incorporating multiple established digital assets. The city’s administration focuses on secure, mature blockchains for digital assets, ensuring transparent on-chain transaction monitoring.
GMC’s Crypto Reserve Plans Reflect Broader Global Trends
GMC’s decision to add digital assets like BTC, ETH, and BNB fits well with the general global trend of incorporating cryptocurrency into national financial policies. Other countries, such as Switzerland and the Czech Republic, are already discussing adding Bitcoin as their reserve. GMC’s initiative makes Bhutan among the early global adopters of integrating digital assets into the country’s long-term financial framework to enhance economic resilience.
Bhutan’s government already holds substantial Bitcoin through Druk Holding and Investments (DHI), the royal government’s commercial arm. DHI reportedly holds 11,688 BTC, valued at over $1.1 billion, and smaller amounts of other cryptocurrencies like Ether. These holdings have been built up partly through the country’s involvement in Bitcoin mining operations. Including these assets in GMC’s strategic reserves reflects the growing recognition of digital currencies’ role in strengthening national economies.
GMC’s Vision for the Future and Its Impact on Financial Innovation
Gelephu Mindfulness City, proposed as an economic corridor linking South Asia with Southeast Asia, will be completed in 21 years. With executive autonomy and legal independence, the city is poised to become a key player in global financial innovation.
GMC plans a summit in March 2025 to discuss digital assets in reserves and explore international crypto cooperation opportunities.
The move to recognize BNB as a strategic reserve asset has drawn attention, particularly from Binance founder Changpeng Zhao. Including BNB alongside Bitcoin and Ether for selection offers investors a view of the usefulness and safety of the asset in the ecosystem. This decision contributes to GMC’s mission to establish a proper and highly secure ecosystem in digital assets and follow the global trend of integrating cryptocurrencies into national and regional policies on financial strategies.
