Bhutan unveiled a National Bitcoin Development Commitment that will allocate up to 10,000 bitcoins valued at around $860 million at current prices, to support the development of Gelephu Mindfulness City.
The 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 holdings 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 investment.
Bhutan was one of the first sovereign bitcoin miners, converting surplus hydropower into digital assets for several years. The country says it will continue to use excess clean energy to mine bitcoins without increasing environmental impact.
The commitment builds on a broader digital strategy that includes a blockchain-based national digital identity, cryptocurrency payments for tourism and merchants, and the recent introduction of TER, a sovereign-backed gold token.
Taken together, Bhutan sees the efforts as combining digital finance with governance, sustainability and social outcomes, especially for younger generations.
