Odaily Planet Daily report: Gelephu Mindfulness City in southern Bhutan has engaged 3iQ, a Toronto-based digital asset management company, to manage a portion of its Bitcoin reserves using low-risk, market-neutral strategies with the goal of generating long-term returns. The scale and source of this Bitcoin management mandate have not been disclosed. Previously, Gelephu Mindfulness City pledged to invest up to 10,000 BTC; on-chain data shows approximately $1 billion in assets have been transferred from wallets associated with Bhutan’s sovereign fund. Officials stated that the partnership with 3iQ, beyond asset management, aims to create employment opportunities for Bhutanese youth and develop technical and financial skills, with specific initiatives still being formulated.
Bhutan's Gelephu Mindfulness City Hires 3iQ to Manage Bitcoin Reserves
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Summary
Bhutan’s Gelephu Mindfulness City has engaged 3iQ to manage a portion of its Bitcoin reserves, focusing on low-risk strategies for long-term returns. The city previously committed up to 10,000 BTC, with on-chain data showing $1 billion transferred from its sovereign-linked wallets. The partnership also aims to stimulate local job creation and skill development for Bhutanese youth. Bitcoin news continues to underscore institutional adoption of digital assets, while altcoins to watch remain largely unnoticed for now.
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