Revolutionizing Bhutan’s Economy: GMC’s Strategic Reserve Assets
Bhutan’s Gelephu Mindfulness City (GMC) has recently announced its plans to include Bitcoin, Ethereum, and BNB in its strategic reserve assets, marking a groundbreaking move for the region. This decision cements GMC as one of the pioneering Special Administrative Regions (SARs) to integrate digital assets into its reserves.
GMC’s Criteria for Digital Assets Selection
- GMC prioritizes digital assets with high market capitalizations and deep liquidity to ensure smooth trading with minimal price disruptions.
- The city focuses on assets issued on secure blockchains that support transparent on-chain transaction monitoring, enhancing security and accountability.
The Vision Behind GMC
King of Bhutan, Jigme Khesar Namgyel Wangchuck, envisions GMC as a sustainable urban living model that blends Bhutanese traditions with modern mindfulness and technological advancements. The city will be powered entirely by renewable energy, mainly tapping into Bhutan’s abundant hydroelectric resources.
Situated on a strategic land bridge between South Asia’s thriving economies, GMC is poised to cater to over two billion people in the region. The ambitious project is scheduled for completion in 21 years, with the initial phase accommodating approximately 150,000 residents.
GMC’s Focus on Digital Innovation
GMC aims to position itself as a central hub for digital innovation and blockchain technology, as evidenced by the enactment of new digital asset laws in December. These regulations establish a legal framework for digital asset businesses and foster a structured environment for innovation.
In March, GMC will convene a meeting with senior officials and industry leaders in Bhutan to discuss integrating digital assets into strategic reserves and forming an international advisory panel on digital assets.
Bhutan’s Pioneering Bitcoin Strategy
Bhutan is not only making waves through GMC’s initiatives but is also leading by example in leveraging Bitcoin mining to boost its economy. According to on-chain data from Arkham Intelligence, Druk Holding and Investments, Bhutan’s sovereign investment arm, holds $1.12 billion worth of Bitcoin, positioning the nation as the fifth-largest holder globally.
The government harnesses major mining pools such as AntPool, Braiins, and Foundry, supported by affordable and clean hydropower resources.
