Bhutan commits up to 10,000 bitcoin to back new mindfulness-based economic hub
The Himalayan kingdom plans to deploy part of its sovereign bitcoin holdings to fund long-term development through Gelephu Mindfulness City.
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The Himalayan kingdom plans to deploy part of its sovereign bitcoin holdings to fund long-term development through Gelephu Mindfulness City.
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Bhutan announced a Bitcoin Development Pledge committing up to 10,000 BTC valued at approximately $1 billion toward Gelephu Mindfulness City construction,...
The proposal seeks a binding social consensus that the funds will never be accessed through future protocol upgrades.
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It's estimated that Bhutan has around 11,286 Bitcoin in total, a stash worth over $986 million, making it the fifth-largest known holder among countries.
BTC's weak tone contrasted with moderate gains in major Asian equity indices, which drew strength mostly from expectations of fiscal stimulus.
While it may be possible for a public company to catch up to Michael Saylor's Strategy Bitcoin holdings, it is probably unlikely, Bitcoin entrepreneur Anth...