Gelephu Mindfulness City in southern Bhutan has hired Toronto-based digital asset manager 3iQ to oversee part of its Bitcoin reserves using a low-risk, market-neutral strategy aimed at generating long-term returns. The size of the mandate and the source of the Bitcoin involved were not disclosed in the announcement. The move follows an earlier commitment by Gelephu Mindfulness City to allocate as much as 10,000 BTC. On-chain data cited in the source also showed that wallets linked to Bhutan’s sovereign fund have already seen roughly $1 billion in assets flow out. Officials said the partnership with 3iQ is not limited to reserve management. It is also intended to create job opportunities for young people in Bhutan and help develop technical and financial skills. Specific programs tied to those workforce and training goals are still being worked out, according to the officials cited in the report.
Gelephu Mindfulness City in southern Bhutan has hired Toronto-based digital asset manager 3iQ to manage part of its Bitcoin reserves, using a low-risk, market-neutral strategy designed to generate long-term returns.
The size of the Bitcoin management mandate and the source of the BTC were not disclosed.
Gelephu Mindfulness City had previously committed up to 10,000 BTC. On-chain data showed that wallets linked to Bhutan’s sovereign fund have already recorded about $1 billion in asset outflows.
Officials said the partnership with 3iQ also has a workforce component beyond asset management. That includes plans to create job opportunities for young people in Bhutan and build technical and financial skills, though the specific programs are still being developed.
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