Bhutan's ambitious Gelephu Mindfulness City project involves cryptocurrency but lacks details on Bitcoin funding sources.Bhutan's ambitious Gelephu Mindfulness City project involves cryptocurrency but lacks details on Bitcoin funding sources.

Bhutan’s Gelephu Mindfulness City Plans Stir Crypto Controversy

Bhutan's Gelephu Mindfulness City Plans Stir Crypto Controversy
Key Takeaways:
  • Controversial Bitcoin claims lack verification in City of Mindfulness.
  • Unconfirmed Bitcoin funding information from major sources.
  • Project announced by Bhutan’s King for economic progress.

No verified sources confirm the Bhutanese government’s use of 10,000 bitcoins for “City of Mindfulness.” Official reports discuss cryptocurrency in strategic reserves and a new gold-backed token, but specific Bitcoin allocation details are lacking.

Bhutan’s King Jigme Khesar Namgyel Wangchuck announced the Gelephu Mindfulness City project, which incorporates cryptocurrency. However, claims about using 10,000 bitcoins for funding lack official confirmation.

The project, led by expert teams including Bjarke Ingels Group, aims to leverage Bhutan’s cultural and economic assets. Cryptocurrency integration focuses on economic development but details regarding Bitcoin remain unverified by primary sources.

The Vision for Gelephu Mindfulness City

The Gelephu Mindfulness City project aims to blend traditional Bhutanese values with modern economic strategies. As indicated by the royal vision, the plan emphasizes eight sectors, including finance and digital assets, though specifics on Bitcoin allocations are unconfirmed.

Despite speculative reports about 10,000 bitcoins funding Gelephu City, no primary documentation supports this claim. The initiative includes Bitcoin and Ethereum in strategic reserves, along with a new gold-backed token on Solana, issued by GMC.

The absence of known funding specifics has raised questions among financial analysts and the cryptocurrency community. While Bhutan supports the TER gold-backed token via a licensed digital bank, Bitcoin usage for city-building remains without official backing.

Future implications include potential implications for Bhutan’s financial landscape and cryptocurrency adoption. The unexplored regulatory aspects and technological implementations showcase an ambitious economic shift for the region, reflecting on recent blockchain advancements.

Market Opportunity
Manchester City Fan Logo
Manchester City Fan Price(CITY)
$0.6326
$0.6326$0.6326
-0.12%
USD
Manchester City Fan (CITY) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Xsolla Expands MTN Mobile Money Support to Congo-Brazzaville and Zambia, Enhancing Access in Fast-Growing Markets

Xsolla Expands MTN Mobile Money Support to Congo-Brazzaville and Zambia, Enhancing Access in Fast-Growing Markets

New Expansion Delivers Instant, Secure Transactions, And A Familiar Local Payment Experience, Helping Developers Reach Millions Of Players And Boost Conversions
Share
AI Journal2025/12/17 23:50
iGMS Introduces AI-Driven Pro+ Plan, Cutting Host Workloads by Up to 85%

iGMS Introduces AI-Driven Pro+ Plan, Cutting Host Workloads by Up to 85%

VANCOUVER, British Columbia–(BUSINESS WIRE)–#STRSoftware—iGMS, an award-winning short-term rental platform and official Airbnb Partner, today announced the launch
Share
AI Journal2025/12/18 00:18
Fed Decides On Interest Rates Today—Here’s What To Watch For

Fed Decides On Interest Rates Today—Here’s What To Watch For

The post Fed Decides On Interest Rates Today—Here’s What To Watch For appeared on BitcoinEthereumNews.com. Topline The Federal Reserve on Wednesday will conclude a two-day policymaking meeting and release a decision on whether to lower interest rates—following months of pressure and criticism from President Donald Trump—and potentially signal whether additional cuts are on the way. President Donald Trump has urged the central bank to “CUT INTEREST RATES, NOW, AND BIGGER” than they might plan to. Getty Images Key Facts The central bank is poised to cut interest rates by at least a quarter-point, down from the 4.25% to 4.5% range where they have been held since December to between 4% and 4.25%, as Wall Street has placed 100% odds of a rate cut, according to CME’s FedWatch, with higher odds (94%) on a quarter-point cut than a half-point (6%) reduction. Fed governors Christopher Waller and Michelle Bowman, both Trump appointees, voted in July for a quarter-point reduction to rates, and they may dissent again in favor of a large cut alongside Stephen Miran, Trump’s Council of Economic Advisers’ chair, who was sworn in at the meeting’s start on Tuesday. It’s unclear whether other policymakers, including Kansas City Fed President Jeffrey Schmid and St. Louis Fed President Alberto Musalem, will favor larger cuts or opt for no reduction. Fed Chair Jerome Powell said in his Jackson Hole, Wyoming, address last month the central bank would likely consider a looser monetary policy, noting the “shifting balance of risks” on the U.S. economy “may warrant adjusting our policy stance.” David Mericle, an economist for Goldman Sachs, wrote in a note the “key question” for the Fed’s meeting is whether policymakers signal “this is likely the first in a series of consecutive cuts” as the central bank is anticipated to “acknowledge the softening in the labor market,” though they may not “nod to an October cut.” Mericle said he…
Share
BitcoinEthereumNews2025/09/18 00:23