According to CoinMeta, Bhutan's Gyelphu Meditation City ( GMC ) has put a portion of its Bitcoin treasury into operation, entrusting it to 3IQ Company to manage a Bitcoin treasury valued at approximately $63,607.21. GMC states that the company chosen in Toronto was selected to achieve long-term returns through low-risk, market-neutral investment strategies, rather than simply holding the assets. GMC also mentions that the specific management methods for the treasury have not yet been determined. Last December, the King of Bhutan pledged to use up to 10,000 BTC as a long-term national asset for the city's development, and options such as related mortgages and treasury strategies are still under consideration.