Hassan Maishera
Bhutan is evolving to be one of the most important cryptocurrency countries in the world thanks to a wide-range of favorable crypto policies. The kingdom is going further with the launch of a landmark Bitcoin development pledge.
Bhutan Unveils a National Bitcoin Development Pledge
Bhutan has announced the launch of a national Bitcoin Development Pledge designed to support the country’s long-term economic development, job creation, and national resilience.
In a press release shared with Cryptowisser, Bhutan revealed that the central focus 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.
This pledge represents a commitment of up to USD 1 billion in sovereign Bitcoin reserves to support GMC’s long-term development.
This latest development is in line with the vision of His Majesty King Jigme Khesar Namgyel Wangchuck.
This multi-year commitment will see Bhutan evaluate a range of responsible approaches consistent with long-term stewardship. The team added that the approach will be analyzed and decided in the coming months.
The options currently under consideration include, 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.
According to the team, the use of the Bitcoins will be guided by strong governance and prudence, with an emphasis on capital preservation, appropriate oversight, and transparency.
The adoption of Bitcoin comes thanks to the cryptocurrency’s ability to compound value over time. For this reason, the priority of the pledge is to preserve that long-term potential while ensuring development proceeds in a stable and sustainable manner. Hence, ensuring that the pledge will deliver positive economic and social outcomes—particularly for the country’s young population.
This latest development comes a few days after Gelephu Mindfulness City (GMC) and Cumberland DRW signed a Memorandum of Understanding (MoU) establishing a multi-year strategic partnership to support Bhutan’s long-term vision for a sustainable, innovation-driven digital economy.
Last week, GMC also launched TER on Solana, a physical gold-backed digital token issued with the sovereign backing of the Kingdom of Bhutan.
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. The country will continue to utilise excess renewable energy from its national power generation utility for responsible Bitcoin mining.
In October, the Kingdom of Bhutan announced that it was transitioning its national digital identity system to the Ethereum blockchain, marking a significant advancement in the country's adoption of decentralized technology. The migration, which affects nearly 800,000 residents, will enable citizens to verify their identities and access government services through a self-sovereign ID system built on Ethereum's infrastructure.
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 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.
