The Kingdom of Bhutan plans to include digital assets such as BTC, ETH, and BNB as part of its strategic reserves.

Editor: far@Centreless

Summary

• Gelephu Mindfulness City in Bhutan plans to include digital assets such as BTC, ETH, and BNB into its strategic reserves.

• Bhutan has already made significant investments in Bitcoin through hydro-powered mining operations.

On January 8, 2025, the Kingdom of Bhutan’s newly established special administrative region, Gelephu Mindfulness City (GMC), announced plans to incorporate digital assets including Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) into its strategic reserves.

Once implemented, the special administrative zone will become one of the first jurisdictions to formally include cryptocurrencies as part of its strategic reserves. According to a statement released on Wednesday, this move aims to enhance the economic resilience of the zone while expanding its existing Bitcoin mining activities. Bhutan is already heavily invested in this sector by leveraging its hydropower resources for Bitcoin mining.

Digital Assets Driving Economic Development

Gelephu Mindfulness City is an ambitious sustainable urban development and economic innovation project conceived by His Majesty King Jigme Khesar Namgyel Wangchuck, located in southern Bhutan. Spanning over 2,500 square kilometers and bordering India, the city positions itself as uniquely capable of serving more than 2 billion people in the region, with a focus on advancing and supporting blockchain technology.

Beyond BTC, ETH, and BNB, Gelephu Mindfulness City did not specify other cryptocurrencies but stated its intent to recognize digital assets with large market capitalizations and deep liquidity, ensuring they can be easily bought and sold with minimal price impact. Additionally, the special administrative region emphasized it would prioritize digital assets issued on more mature and secure blockchain technologies to facilitate on-chain transaction monitoring.

This announcement follows closely after the enactment of the Application of Laws Act 2024 on December 26, 2024. “The Act establishes the legal and regulatory framework for companies within GMC to provide financial services related to digital assets. Together with the inclusion of digital assets like BTC, ETH, and BNB into strategic reserves, this legislative step aims to drive growth in GMC’s digital asset ecosystem, creating a technologically advanced and well-regulated environment,” said officials from GMC.

In March this year, Gelephu Mindfulness City will host a high-level meeting inviting senior government officials and industry leaders from around the world to discuss topics related to incorporating digital assets into strategic reserves.

Bhutan: The World's Fifth-Largest National Bitcoin Holder

Bhutan is currently the fifth-largest known national holder of Bitcoin globally, possessing 12,211 bitcoins (worth approximately $1.2 billion), ranking behind only the United States (208,109 BTC), China (190,000 BTC), the United Kingdom (61,245 BTC), and Ukraine (46,351 BTC), according to data from Bitcoin Treasuries.

However, unlike many countries that acquire Bitcoin through criminal seizures, Bhutan stands out as a unique player by engaging in environmentally sustainable Bitcoin mining powered by its abundant national hydropower resources.

GMC’s new reserve plan has also sparked speculation that other nations may already be accumulating Bitcoin—acting ahead of U.S. President-elect Donald Trump fulfilling his campaign promise to establish a national Bitcoin reserve. Trump previously pledged to create a U.S. national Bitcoin reserve program.