Bhutan’s Gelephu Mindfulness City has strategically decided to include cryptocurrencies Bitcoin, Ethereum, and Binance Coin in its strategic reserves, making it one of the first jurisdictions globally to do so.
Crypto as a Catalyst for Economic Growth
GMC's decision to become the 'Hong Kong of South Asia' is part of an ambitious plan to serve over two billion people in the rapidly growing region. The inclusion of Bitcoin, Ethereum, and Binance Coin is part of a strategy to adopt mature digital assets with high market capitalization and deep liquidity. This move ensures transparency and security through on-chain transaction monitoring. The enactment of the 'Application of Laws Act 2024' provides a legal framework for companies offering services involving digital assets.
Strategic Partnerships and Vision
Gelephu has drawn international attention, including a partnership with the architecture firm Bjarke Ingels Group. BIG is opening an office in Bhutan to work on the city's development and foster design talent within the kingdom. The focus on digital assets aligns with Bhutan’s broader economic transformation. The city plans a high-level meeting in March 2025 with government and business leaders to discuss the integration of digital assets.
Bhutan’s Lead in Sustainable Crypto Adoption
Bhutan’s crypto journey sets it apart from neighbors like India, which are more cautious about digital assets. Bhutan's $1 billion Bitcoin reserves vastly exceed El Salvador’s $335 million. The nation's success is rooted in its ability to power large-scale Bitcoin mining with hydropower, which contributes 30% to GDP with a capacity of 23,760 MW.
By becoming one of the first regions to incorporate cryptocurrencies into its strategic reserves, Gelephu demonstrates its ambition for economic development and digital asset integration with sustainable energy solutions.
