PANews reported on December 17th, citing Cointelegraph, that the Bhutanese government announced it will use 10,000 bitcoins from its reserves to build the Glep PANews reported on December 17th, citing Cointelegraph, that the Bhutanese government announced it will use 10,000 bitcoins from its reserves to build the Glep
The Bhutanese government plans to use 10,000 bitcoins to build a special administrative region called "City of Mindfulness."
PANews reported on December 17th, citing Cointelegraph, that the Bhutanese government announced it will use 10,000 bitcoins from its reserves to build the Glep Mindfulness City (GMC), a special administrative region. Located in Glep town in southern Bhutan, GMC, launched in 2024, aims to curb youth outflow and become Bhutan's new economic hub by creating high-value-added local employment opportunities. The city plans to attract businesses from multiple sectors, including finance, tourism, green energy, technology, healthcare, and agriculture, and will offer regulatory flexibility for cryptocurrency and fintech companies while promoting Bitcoin mining in Bhutan. According to its official website, GMC covers approximately 10% of Bhutan's land area, about 1,544 square miles. Bhutan's government holds the fifth-largest Bitcoin reserves in the world, with the majority originating from mining. The country holds approximately 11,286 bitcoins, worth over $986 million.
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