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Bhutan selects 3iQ to manage part of GMC Bitcoin reserve

Bhutan selects 3iQ to manage part of GMC Bitcoin reserve

The Toronto-based firm will help oversee Bitcoin earmarked for Gelephu Mindfulness City, while committing to local talent development and a long-term presence in Bhutan's planned digital finance hub.

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Fact Check
The official 3iQ press release directly confirms that 3iQ secured a dedicated mandate to manage a portion of GMC's Bitcoin treasury, tied to talent investment and knowledge transfer (skills development). CoinDesk independently confirms the Toronto base, the low-risk/market-neutral strategy, the returns-generation shift from simply holding, and the job/skills-building component. Multiple additional independent outlets report the same partnership, all consistent with the claim.
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Summary

Bhutan has chosen Canada's 3iQ to help manage Bitcoin reserves tied to Gelephu Mindfulness City, deepening the kingdom's effort to use digital assets to support a new special administrative region in the country's south. Under the partnership, 3iQ will manage some of the 10,000 Bitcoins previously pledged for the project, invest in local talent and establish a long-term physical presence in Gelephu. Gelephu Mindfulness City was first announced in 2023 as a world-class economic hub in southern Bhutan and is central to the government's push to diversify the economy beyond hydropower and tourism. Bhutan said last year it would use 10,000 Bitcoins to fund the project, extending a broader national strategy built on years of Bitcoin accumulation and mining that began quietly in 2019. In 2024, Bhutan announced it held a reserve of the digital coins, and in January 2025 said it would also hold other cryptocurrencies on its balance sheet. 3iQ director and CEO Pascal St-Jean said the firm aligned early with GMC's vision of attracting global talent while remaining committed to Bhutan's cultural values and environmental principles. GMC Board Director Jigdrel Singay said 3iQ stood out not only for its institutional digital-asset expertise but also for its commitment to knowledge transfer and building local capabilities. The plan echoes El Salvador's attempt to build a tax-free Bitcoin City financed through Bitcoin-linked instruments.

Terms & Concepts
  • special administrative region: An area given a distinct governance and regulatory framework to pursue specific economic or policy goals.
  • digital assets: Digitally native holdings such as cryptocurrencies that can be stored, transferred and managed on electronic networks.
  • offshore digital financial hub: A jurisdiction designed to attract international financial activity, in this case centered on digital-asset services and businesses.