Bhutan’s Gelephu Special Administrative Region (SAR), also known as Gelephu Mindfulness City (GMC), has unveiled plans to establish a strategic cryptocurrency reserve, incorporating prominent digital assets like Bitcoin, Ether, and BNB. The initiative was announced on January 8 as part of GMC’s broader efforts to bolster economic resilience and explore new opportunities through Bitcoin mining.
GMC’s approach to a crypto strategic reserve aims to include digital assets with high market capitalization and liquidity, ensuring ease of trading with minimal price fluctuations. The administration emphasized the importance of selecting assets issued on mature, secure blockchains that enable robust on-chain transaction monitoring.
Unlike jurisdictions focusing solely on Bitcoin reserves, GMC intends to diversify its reserve with multiple well-established cryptocurrencies. Discussions about the plan are expected to take place with senior Bhutanese government officials and global industry leaders in March.
The cryptocurrency reserve announcement aligns with GMC’s vision to position itself as a key economic corridor connecting South Asia and Southeast Asia. The city, which will operate with executive autonomy and legal independence, is part of a long-term development project initiated in November 2024 with a $100 million bond. Officials estimate the project will be completed in 21 years, with phased construction.
This initiative builds on Bhutan’s existing involvement in cryptocurrencies. The country already holds substantial digital assets through Druk Holding and Investments (DHI), the government’s commercial arm. According to Arkham Intelligence, Bhutan possesses 11,688 BTC (valued at $1.12 billion) and 656 ETH ($2.2 million), along with smaller holdings on chains like Polygon, BNB Chain, and Base.
Bhutan’s crypto investments date back to at least 2019, supported by Bitcoin mining operations and collaborations with major mining firms such as Bitdeer.
