Bhutan has announced its intention to dedicate 10,000 Bitcoin
This newly proposed GMC, located in Gelephu near the southern border, was presented as an economic region in 2024.
The goal for this city is to reduce youth migration by providing high-quality employment opportunities in finance, green energy, technology, healthcare, agriculture, and tourism.
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Covering approximately 1,544 square miles, GMC will occupy about 10% of the country’s territory. The region is expected to offer relaxed rules for technology and crypto-related businesses and to serve as a base for the country’s Bitcoin mining industry.
The project plans involve a blend of strategies, including risk-aware earnings, active treasury management, and measures to protect asset value while funding developmental objectives.
The plan is tied to the “Bitcoin Development Pledge” goal. This multi-year plan will use mining operations and Bitcoin resources to sustain progress and economic development.
King Jigme Khesar Namgyel Wangchuck highlighted new policies related to land rights to ensure current owners are protected, inequality is avoided, and prosperity is distributed throughout the country as work on GMC continues.
Crypto payments are operational for local merchants and tourists in the area, and a government-supported gold-linked digital currency called TER has been launched.
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