Bhutan is staking nearly 1 million USD on Ethereum to promote its blockchain national strategy.

Source: PortaldoBitcoin Original Title: Bhutan increases its bet on crypto and stakes nearly US$ 1 million in Ethereum Original Link: https://portaldobitcoin.uol.com.br/butao-amplia-aposta-em-cripto-e-faz-staking-de-quase-us-1-milhao-em-ethereum/

Bhutan Advances Cryptocurrency Strategy

Bhutan has made significant progress in its strategy to integrate blockchain into national infrastructure. Last Thursday, on-chain analyst Lookonchain revealed on the X platform, using Arkham data, that the Bhutanese government deposited 320 ETH—approximately 1 million USD—into the Figment staking platform, which specializes in providing institutional-grade solutions for Ethereum.

According to Lookonchain, wallets related to the government are still very sufficient: over 1 million USD worth of ETH is still available, and there is also a large amount of BTC. This is because Bhutan is a holder of Bitcoin, and according to on-chain data, its wallet holds BTC worth 560 million USD.

The transfer of 320 ETH to Figment marks the country's first institutional-level staking, further reinforcing its confidence in the long-term value and network security of Ethereum.

According to the information, these assets are managed by Druk Holding and Investments, which is a state-owned enterprise responsible for the country's strategic investments.

Bhutan and Digital Identity

This move comes weeks after the country launched its national digital identity system, which is directly built on the Ethereum blockchain and was unveiled in October, when Ethereum founder Vitalik Buterin and Ethereum Foundation chair Aya Miyaguchi both attended the press conference.

“Today, Bhutan celebrates a historic moment by becoming the first country to anchor its national digital identity system on Ethereum,” Miyaguchi stated at the time.

The digital identity system continues to advance: All credentials must be migrated to Ethereum by the first quarter of 2026, which is a project that aligns with the principles of transparency and decentralization advocated by the Ethereum community.