Bhutan's Gelephu Mindfulness City Plans to Create Strategic Crypto Reserve

Gelephu Mindfulness City (GMC), Bhutan’s newly established Special Administration Region, has revealed plans to establish a strategic reserve using digital assets such as Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB).

GMC revealed its plans to incorporate cryptocurrency into its financial strategy on Jan. 8. The inclusion of digital assets aims to enhance the Special Administration Region's (SAR) economic resilience.

This move marks a significant step in the region's evolving financial strategy, which already includes Bitcoin mining. It also reflects the increasing use of Bitcoin and other digital assets as a hedge against economic instability.

GMC’s Unique Advantages

Situated on the land bridge linking the fast-growing economies of South Asia, GMC is “uniquely positioned to serve the more than two billion people in the region,” the statement notes, adding that one of its key economic focuses is promoting and supporting the use of blockchain technology.

Unlike other regions focusing solely on Bitcoin, GMC plans to diversify its reserves by including other major cryptocurrencies with strong market capitalization and liquidity. Currently, Ethereum (ETH) has a market cap of $384 billion, while Binance Coin (BNB) stands at $99 billion, according to CoinGecko.

The city intends to meet with key government officials and global industry experts in March to discuss the next steps.

Asia’s Crypto Frenzy

Cryptocurrency adoption is rapidly expanding across Asia, with several countries in the region embracing digital assets as part of their economic strategies.

Most recently, Thailand's government announced plans to explore the integration of cryptocurrencies into its economy, including pilot projects for crypto payments in tourism-heavy areas like Phuket.

Similarly, South Korea has taken significant steps toward adopting digital assets, with plans for institutional investors to gain approval for cryptocurrency investments.