Bhutan on the Path to Becoming the New El Salvador! They Pledged to Buy Thousands of Bitcoin! Here Are the Details

Bhutan has taken a remarkable step by placing crypto assets at the heart of its national development strategy. The Himalayan Kingdom announced plans to allocate up to 10,000 Bitcoins to support its new economic and social development project called “Gelephu Mindfulness City.”

This commitment, worth approximately $860 million at current prices, demonstrates that Bitcoin is being positioned as a strategic national reserve asset rather than a speculative one.

Officials stated that final decisions regarding how these Bitcoin assets will be used will become clear in the coming months. Options include “responsible” approaches such as using them as collateral, developing treasury management strategies, or long-term holding them. The goal is to provide long-term development financing while preserving the value of the assets.

Gelephu Mindfulness City is designed as a special administrative region that will utilize digital assets in its financial reserves. The project stands out as a key part of Bhutan’s goal to diversify its economy and attract international investment.

The country was previously one of the first sovereign states to mine Bitcoin using surplus hydroelectric power. The Bhutanese government emphasizes that mining will continue using clean energy without increasing environmental impact.

This initiative is a continuation of a broader digital strategy that includes a blockchain-based national digital identity, crypto-backed tourism payments, and the recently launched gold-backed local token TER. With these steps, Bhutan aims to integrate digital finance with governance, sustainability, and social benefit, creating new opportunities, especially for younger generations.