The Himalayan kingdom of Bhutan, which is world-famous for creating the Gross National Happiness (GNH), has recently shown the world the innovation and forward-looking vision of this mysterious country. On Wednesday, the newly established special administrative region of Bhutan, "Gelephu Mindfulness City (GMC)", announced that it would include Bitcoin, Ethereum, and BNB in its strategic reserves, setting a global precedent and writing a new chapter in the crypto economy.
From “Happy Country” to Blockchain Hub: Bhutan’s ambitions and practices
As early as 2017, when the price of Bitcoin was still hovering around US$5,000, Bhutan had already begun to get involved in the Bitcoin mining business. To date, it has accumulated more than US$1.1 billion worth of Bitcoins, making it a veritable "national whale" .
Today, the "City of Mindfulness in Glepp" has announced that Bitcoin will be included in its strategic reserves, pushing Bhutan to the forefront of digital asset innovation in the world. The official statement states:
As a strategic reserve, we will focus on digital assets with higher market capitalization and ample liquidity to ensure that these assets can be quickly traded in the market and minimize the impact of price fluctuations. At the same time, we will also give priority to assets built on mature and secure blockchains to effectively monitor on-chain transactions.
Bhutan’s Gelephu Mindfulness City Pioneers Adoption of BTC, ETH and BNB and Other Digital Assets in City’s Strategic Reserves. https://t.co/O0sjlhiTDL pic.twitter.com/CfKVSUlcS1
— gmcbhutan (@gmcbhutan) January 8, 2025
The digital asset layout of "Gelepu Mindful City" is in line with Bhutan's policy of using emerging technologies to promote economic diversification, and the (Gelepu Mindful City Act No. 1) that will officially take effect in 2024 has also established a set of A sound regulatory framework to attract blockchain companies and financial services players.
In addition, the "Glepp City of Mindfulness" will hold a global summit in March this year, inviting international leaders and experts to discuss the role of digital assets in strategic reserves. By then, an international advisory group will also be established to provide long-term planning and guidance for digital asset policies.
"Bhutan's "City of Mindfulness" incorporates BTC, ETH, and BNB into strategic reserves to write a new chapter in the crypto economy." This article was first published on (Block Guest).
