The Kingdom of Bhutan has announced that it will use 10,000 (about $875 million) of its bitcoin reserves to build the Glop City of Mindfulness (GMC). It is estimated that Bhutan currently holds about 11,286 bitcoins, with a total value of more than $986 million, making it the fifth largest bitcoin holder in the world. Launched in 2024, the special administrative region in southern Bhutan covers an area of about 1,544 square miles (about 10% of Bhutan's land area) and aims to attract businesses in finance, technology, tourism and other fields, create high-value jobs, and prevent the exodus of young talent.
The project will be built in phases over the next 20 years, and a gold-pegged sovereign digital token, TER, has been launched. The King of Bhutan stressed that this development will ensure shared prosperity for the country's 790,000 population.
Bhutan Promises to Invest 10,000 Bitcoins to Develop "City of Mindfulness"
2025-12-17 06:29:31
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