Gelephu Mindfulness City (GMC) in Bhutan has revealed plans to include Bitcoin, Ethereum and BNB in its strategic reserve assets, according to a January 8 statement.
The move marks an important milestone as GMC becomes one of the first special administrative regions (SARs) to integrate digital assets into its reserves.
GMC has emphasized its preference for digital assets with large market capitalization and high liquidity. These criteria ensure smooth trading with minimal price disruptions. Additionally, the city plans to focus on assets issued on secure blockchains that support transparent monitoring of on-chain transactions.
The initiative aims to strengthen the city’s economic resilience and build on its involvement in Bitcoin mining.
Binance CEO Richard Teng said:
“Congratulations to Bhutan for leading the way in crypto innovation! This forward-thinking approach to blockchain adoption sets a powerful example for the world.
GMC?
The King of Bhutan, Jigme Khesar Namgyel Wangchuck, envisioned GMC as a model of sustainable urban living combining Bhutanese traditions with modern principles of mindfulness and technological advancement. GMC will be powered entirely by renewable energy, primarily harnessing Bhutan’s abundant hydroelectric resources
The city is located on a strategic land bridge between South Asia’s booming economies and is well positioned to serve more than two billion people in the region. The project is expected to be completed in 21 years, with the first phase accommodating around 150,000 people.
According to its website, the city aims to become a hub for digital innovation and blockchain technology. Efforts have been made in this regard, as evidenced by the enactment of new digital asset laws in December.
These regulations establish a legal framework for companies involved in digital assets and create a structured environment for innovation.
In March, GMC will hold a meeting with senior officials and industry leaders in Bhutan. The agenda includes discussions on integrating digital assets into strategic reserves and the formation of an international digital assets advisory group.
Bhutan’s broader Bitcoin strategy
Beyond GMC’s efforts, Bhutan is setting an example for developing countries by leveraging Bitcoin mining to boost its economy.
On-chain data from Arkham Intelligence reveals that Druk Holding and Investments, Bhutan’s sovereign investment arm, holds $1.12 billion worth of Bitcoin.
This places Bhutan fifth in the world among countries holding Bitcoin, after the United States, China, the United Kingdom and Ukraine.
The government uses large mining pools like AntPool, Braiins and Foundry, supported by its affordable and clean hydropower.
