Bhutan’s GMC puts part of its bitcoin treasury to work after 10,000 BTC pledge
The planned Gelephu Mindfulness City says 3iQ will run part of its bitcoin treasury on a market-neutral basis, a shift from holding the coins as a long-term national asset.
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Summary
- Gelephu Mindfulness City in southern Bhutan hired Toronto-based 3iQ to manage part of its bitcoin treasury using a low-risk, market-neutral strategy aimed at generating long-term returns.
- The size and source of the bitcoin mandate were not disclosed, amid ongoing questions about Bhutan’s earlier pledge of up to 10,000 BTC and onchain data suggesting about $1 billion has left wallets linked to its sovereign fund.
- Beyond asset management, officials say the deal with 3iQ is intended to create jobs for Bhutanese youth and build skills in technology and finance, with specific programs still being developed.
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Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.
Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.
Why it matters:
Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.
