Use 10,000 Bitcoins to build a city! Bhutan refuses to sell, relying on compound interest to create the "Mindfulness City".

The mysterious kingdom of Bhutan under the Himalayas has once again shocked the world with its “Crypto Assets governance”. The Bhutanese government announced on Tuesday its commitment to allocate 10,000 Bitcoins (approximately $875 million) as the source of funding for the construction of the economic center “Gelephu Mindfulness City (GMC)”.

What attracts the attention of the global investment community the most is that the Bhutanese government does not intend to “sell coins for cash,” but rather aims to inject a continuous development momentum into this future city through innovative financial leverage while retaining the country's digital asset reserves.

This special administrative region, covering an area of approximately 1,544 square miles (about 10% of Bhutan's territory), is a grand blueprint personally planned by the King of Bhutan, Jigme Khesar Namgyel Wangchuck, to reverse the outflow of young talent and create high-value employment opportunities.

Wang Chuk today (17th) early in the National Day speech personally announced the above news, describing this initiative as a cross-generational investment “concerning youth employment and national prosperity.”

As for how to utilize these 10,000 Bitcoins, the government of Bhutan stated that it is currently evaluating various strategies, including collateral loans, yield strategies under risk management, and long-term holding mechanisms, with the goal of transforming the compound value of Bitcoin into a silver bullet for building infrastructure, rather than directly selling it off for cash.

The government of Bhutan stated that the enduring resilience of Bitcoin lies in its ability to generate compound value over time. Any future disbursement of Bitcoin will be conducted under rigorous governance and prudent principles to ensure transparency and capital preservation.

This city, planned over 20 years and constructed in phases, will encompass finance, green energy, healthcare, and technology. It aims not only to capture the hearts of young people but also to make Bhutan the most unique economic and trade hub globally in the Web3 era.

According to Bitbo data, Bhutan has been using surplus hydropower generated from the rivers of the Himalayas for Bitcoin mining since 2021, having mined a total of 13,011 Bitcoins to date, and currently holds 11,286 Bitcoins, worth approximately $986 million.

Bhutan's application of blockchain has long gone beyond mining.

Currently, Bhutan has established a blockchain national identity system for approximately 800,000 citizens and successfully migrated from Polygon to Ethereum in October this year, officially enabling Verifiable Credentials and digital signature features.

In May of this year, Bhutan partnered with DK Bank and Binance Pay to fully integrate Crypto Assets payments into the tourism industry. From plane tickets and hotels to roadside fruit stalls, travelers can use over 100 types of Crypto Assets for purchases, with more than 100 local merchants already participating.

In addition, Bhutan has recently launched the Solana-based token “TER”, backed by physical gold reserves, issued through DK Bank, making it one of the few sovereign countries attempting national-level tokenization of assets.

Bhutan's “City of Mindfulness” will incorporate BTC, ETH, and BNB into its strategic reserves, writing a new chapter in the Crypto Assets economy.

_
Disclaimer: This article is intended to provide market information only. All content and opinions are for reference only and do not constitute investment advice, nor do they represent the views and positions of the blockchain. Investors should make their own decisions and trading choices, and the author and the blockchain will not bear any responsibility for any direct or indirect losses incurred by investors' trades.
_

Tags: Gelephu Mindfulness City GMC Bhutan Reserve Crypto Assets Mining Wangchuk Gelephu Mindfulness City Bitcoin