Bhutan pledges up to 10,000 BTC to fund Gelephu Mindfulness City

During his National Day address, Bhutan's King Jigme Khesar Namgyel Wangchuck announced a formal pledge of up to 10,000 BTC, worth roughly $860 million to $1 billion, to bankroll the long-term build-out of Gelephu Mindfulness City. Rather than selling the coins, officials say they will preserve capital via collateralized lending, treasury strategies, and long-term holding, with the actual deployment mechanics still to be decided in the coming months. It is the first time a state has earmarked a slice of its sovereign Bitcoin stack to fund a flagship national project, which is either visionary treasury management or a very large bet pending the next bear market.