The Kingdom of Bhutan announced on Tuesday its decision to allocate 10,000 bitcoins from its national reserve, worth about one billion dollars, for the development and long-term well-being of its autonomous administrative region, Gelephu Mindfulness City.
His Majesty announces a major national commitment
During the 118th National Day of the Himalayan kingdom, King Jigme Khesar Namgyel Wangchuck unveiled his government’s investment plan involving 10,000 BTC from the nation’s mining reserves, to be used as a strategic resource for the new administrative region of Gelephu Mindfulness City (GMC). His Majesty declared: “Today I announce the allocation of 10,000 BTC, equivalent to about 1 billion U.S. dollars. This commitment is to our people, our youth, and our nation.”
GMC, located in the southern city of Gelephu in southern Bhutan, near the Indian border, is a key economic project launched in 2024 under a Royal Charter as a highly autonomous region of the Kingdom of Bhutan, endowed with executive and legislative powers and an independent judiciary focused on mindfulness and the philosophy of Gross National Happiness (GNH). Its objective is to promote economic growth, cultural preservation, and religious and spiritual well-being by integrating advanced technologies, sustainable approaches, and foreign investment beyond the energy, hydropower, and tourism sectors.
Furthermore, the monarch emphasized the importance of this project as a key driver of the region’s financial and digital growth and of job creation for young Bhutanese, while stressing the need for fair management of land and generated benefits so that all citizens can share in them. “As your king, I must ensure that every Bhutanese is a guardian, a participant, and a beneficiary of GMC,” he declared.
Bhutan implements cryptocurrency through GMC
Bhutan is now among the world’s largest holders of bitcoin, thanks to its hydroelectric energy sources, which power bitcoin mining processes and provide the government with a source of revenue.
Furthermore, the monarchy has already implemented the TER, a digital token backed by gold and supported by the state through Gelephu Mindfulness City, and held by DK Bank, the first digital bank to receive a license from the Bhutanese government.
The token operates on the Solana blockchain, providing digital access to international investors and also allowing physical gold to be represented on the blockchain.
The acquisition of TER tokens is designed to be as secure and straightforward as buying physical gold from a major financial institution. During the initial phase, users will be able to purchase TER directly from DK Bank, and the tokens will be safely held by an institutional entity.
Through these initiatives, Bhutan is expanding its blockchain strategy to diversify its economy and ensure a stronger digital future, while linking traditional assets such as gold with regulated digital finance, establishing an innovative model of digital assets backed by real, controlled reserves.
Source : GMC
