The Bhutanese Government has pledged to use 10,000 bitcoins to build the "City of Mindfulness."

BlockBeats News, December 17th, according to Cointelegraph, the Bhutanese government has announced that it will utilize 10,000 bitcoins from its reserves to build a special administrative region called the Gelephu Mindfulness City (GMC). The GMC, located in the southern town of Gelephu in Bhutan, is set to launch in 2024 with the aim of curbing youth emigration by creating high value-added local job opportunities and becoming Bhutan's new economic center.

The city plans to attract businesses from various industries such as finance, tourism, green energy, technology, healthcare, and agriculture, and provide regulatory flexibility for cryptocurrency and fintech companies while promoting Bitcoin mining development in Bhutan. According to the official website, the GMC occupies about 10% of Bhutan's territory, approximately 1,544 square miles.

Bhutan's Bitcoin reserves rank fifth among countries, with most of it coming from mining. The country holds around 11,286 bitcoins worth over $986 million.