Bhutan's government sells 435 BTC (~$28M) to fund Gelephu Mindfulness City development, continuing monthly offloading pattern.
Macro & Markets ·
Bhutan's government deposited approximately 435 BTC (valued near $28 million) to Binance in early August, continuing a pattern of regular asset liquidation tied to funding the Gelephu Mindfulness City project. The transfer follows a 700 BTC disposition in July and a 533 BTC sale in mid-June, suggesting a sustained monthly cadence of offloading rather than isolated transactions.
Gelephu Mindfulness City is envisioned as a special administrative economic zone exceeding 2,600 square kilometers, structured around green technology, digital finance, and sustainable urban development. The government announced plans to finance the initiative through Bitcoin sales near the end of 2025, leveraging holdings acquired via hydropower mining operations.
The sales occurred as Bitcoin stabilized in the $65,000 range, with the August deposit representing the smallest recent tranche. Earlier dispositions included 738 BTC in early June, paired batches of 100 and 90 BTC in May, and a $45 million liquidation in March, though the exact pace and volume of future sales remain unconfirmed.