Thimphu, Bhutan- December 17th: Bhutan has unveiled a national Bitcoin Development Pledge designed to support the country’s long-term economic development, job creation, and national resilience.
The centrepiece of the pledge is a commitment of up to 10,000 Bitcoin (BTC) towards the development of GelephuMindfulness City (GMC) — a new economic hub in southern Bhutan designed around mindfulness, sustainability, and innovation.
In value terms, the pledge represents a commitment of up to USD 1 billion in sovereign Bitcoin reserves to support GMC’s long-term development.
The pledge is in line with the vision of His Majesty King Jigme Khesar Namgyel Wangchuck, reflecting Bhutan’s intention to apply modern digital technologies with care, patience, and responsibility, in service of its people and future generations.
In implementing this multi-year commitment, Bhutan will evaluate a range of responsible approaches consistent with long-term stewardship. The approach will be determined in the coming months, with options under consideration including collateralising the Kingdom’s BTC holdings, risk-managed yield and treasury strategies, and intentional long-term holding approaches designed to preserve and protect the value of its digital assets.
Any use of Bitcoin will be guided by strong governance and prudence, with an emphasis on capital preservation, appropriate oversight, and transparency. Bhutan recognises that Bitcoin’s enduring strength lies in its ability to compound value over time; the priority will be to preserve that long-term potential while ensuring development proceeds in a stable and sustainable manner, delivering positive economic and social outcomes—particularly for the country’s young population.
Bhutan is one of the earliest sovereign nations to mine Bitcoin and has been using renewable hydropower to create digital assets for a number of years. Its abundant natural hydroelectric resources at times exceed domestic demand, allowing surplus clean energy to be converted into a long-term national asset without added environmental impact. The country will continue to utilise excess renewable energy from its national power generation utility for responsible Bitcoin mining.
The pledge reinforces engagement with responsible international fintech and digital asset partners to participate in the development of Gelephu Mindfulness City. As a Special Administrative Region, GMC is being developed to provide regulatory clarity, modern financial connectivity, and a long-term, values-led environment for collaboration and growth.
This announcement builds on Bhutan’s established track record as a thoughtful and capable adopter of digital and financial infrastructure. Bhutan today holds significant national Bitcoin reserves accumulated through clean energy.
In parallel, Bhutan has anchored its national digital identity system on public blockchain infrastructure, enabling nearly 800,000 citizens to securely verify their identities and access public services. Building on this foundation, Bhutan has integrated digital assets into GMC’s strategic reserves, enabled crypto-based payments across merchants and tourism services, and launched TER, a sovereign-backed digital token linked to physical gold. Together, these initiatives reflect a deliberate, long-term approach to innovation grounded in governance, sustainability, and real-world utility.
In his National Day Address, His Majesty King Jigme Khesar Namgyel Wangchuck said:
״As your King, I must ensure that every Bhutanese is a custodian, stakeholder, and beneficiary of GMC.
We are therefore developing a new land policy that protects landowners, prevents widening disparities, and ensures shared national prosperity. Think of GMC as a company and landowners as its shareholders. Since most land is state-owned, Bhutanese from all Dzongkhags will share in its success.
To support this policy, I am announcing today the allocation of up to 10,000 BTC, valued at approximately USD 1 billion. This commitment is for our people, our youth, and our nation.״
The full Bhutan Bitcoin Development Pledge can be read here: https://gmc.bt/pledge
About Gelephu Mindfulness City
The Gelephu Mindfulness City Special Administrative Region is a visionary initiative creating a world-class economic hub in southern Bhutan, centered on mindfulness, sustainability, and innovation. The SAR integrates traditional Bhutanese values with globally recognized legal frameworks, cutting-edge design and technology, while harnessing the Kingdom’s abundant renewable energy resources to serve as a global exemplar of holistic development.
For more information, visit www.gmc.bt or contact [email protected].
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