Author: Ashrith Rao; Translation: Blockchain in Plain Language
Bhutan is taking a significant step into the cryptocurrency space, announcing a allocation of up to 10,000 Bitcoin (BTC) (approximately $1 billion USD) to fund the "Gleup Mindfulness City" initiative.
For years, Bhutan's government investment arm, Druk Holding & Investments (DHI), has been mining Bitcoin using renewable energy. Currently, the country has become one of the leading Bitcoin holders globally, with reserves exceeding 11,000 BTC.
To achieve sustainable development, the government plans to support the GMC's development through methods such as collateral loans and revenue generation, rather than directly selling Bitcoin. This special administrative region will attract enterprises from sectors such as finance, tourism, green energy, and technology.
Core Plan
Gleup plans to collaborate with