Bhutan unveiled a national Bitcoin Development Pledge that will allocate up to 10,000 bitcoin worth about $860 million at current prices, to support the development of the Gelephu Mindfulness City.
The commitment positions bitcoin as a strategic national asset rather than a speculative holding, with officials exploring responsible approaches such as collateral, financial strategies or long-term holdings to fund development while preserving value, according to an emailed statement 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 among the earliest sovereign bitcoin miners, converting excess hydropower into digital assets for several years. The country says it will continue to use excess clean energy to mine bitcoin without increasing environmental impact.
The pledge builds on a broader digital strategy that includes blockchain-based national digital identity, crypto-enabled payments for tourism and merchants, and the recent introduction of TER, a government-backed gold token.
Together, Bhutan sees the effort as a blend of digital finance with governance, sustainability and social outcomes – especially for younger generations.
