Bhutan has unveiled a national commitment for Bitcoin development that will allocate up to 10,000 Bitcoins. valued at approximately $860 million at current prices, to support the development of Gelephu Mindfulness City.
This commitment positions Bitcoin as a strategic national asset rather than a speculative holding, with officials exploring responsible approaches such as collateralization, treasury strategies or long-term holding to finance development while preserving value, according to an emailed announcement Wednesday.
Final decisions on how the assets will be deployed are expected in the coming months.
Gelephu Mindfulness City is a special administrative region designed to use digital assets for its financial reserves, forming a key part of Bhutan’s blockchain strategy to diversify its economy and attract investments.
Bhutan was one of the first sovereign Bitcoin miners, converting surplus hydroelectric power into digital assets for several years. The country says it will continue to use excess clean energy to mine bitcoin without increasing environmental impact.
This commitment builds on a broader digital strategy that includes a blockchain-based national digital identity, encrypted payments for tourism and merchants, and the recent introduction of TER, a state-backed gold token.
Together, Bhutan sees these efforts as aimed at linking digital finance with governance, sustainability and social outcomes, especially for younger generations.
