3iQ to Manage Bhutan's Bitcoin Reserves for Gelephu Mindfulness City
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3iQ Corp., Canada's largest digital asset manager, will manage 10,000 Bitcoins for Bhutan's Gelephu Mindfulness City project. The firm will also invest in local talent and establish a physical presence in Gelephu, which aims to become Bhutan's offshore digital financial hub. Bhutan announced plans to use these Bitcoins to fund the Gelephu Mindfulness City, a project first revealed in 2023, designed as a world-class economic center in southern Bhutan. 3iQ's CEO, Pascal St-Jean, emphasized alignment with GMC's vision to create a next-generation economic hub while respecting Bhutan's cultural and environmental values. GMC Board Director, Jigdrel Singay, highlighted 3iQ's commitment to investing in local capabilities and knowledge transfer. Bhutan has been acquiring Bitcoin since 2019 and revealed its digital coin reserves in 2024, planning to diversify its economy beyond hydropower and tourism. The GMC project parallels El Salvador's Bitcoin City initiative, aimed at attracting wealthy tech entrepreneurs.
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