Bhutan strengthens its blockchain footprint with new ETH staking, digital ID migration, and long-term Bitcoin accumulation.
Bhutan Initiates Major ETH Staking Move
Blockchain records reveal that the Royal Government of Bhutan has staked 320 ETH—valued at roughly $970,000—through staking provider Figment, marking another significant step in the country’s growing involvement in blockchain infrastructure. Figment, known for supporting institutional staking across multiple networks, enables Bhutan to earn rewards while contributing to Ethereum’s validator security.
This move follows a series of Ethereum-focused initiatives by the Himalayan nation, aligning with its broader digital strategy.
National Digital ID Shifts from Polygon to Ethereum
Bhutan recently began migrating its self-sovereign digital ID system from Polygon to Ethereum, a transition announced in October. The upgraded system will allow citizens to verify identities and access government services directly on Ethereum, enhancing transparency and reliability.
The integration is already active, with full migration of citizen credentials expected by early 2026, according to statements from the Ethereum Foundation’s leadership during the project launch, which included participation from Bhutan’s prime minister.
Deepening Crypto Involvement and Long-Term Bitcoin Strategy
Bhutan’s embrace of digital assets is not new. The country started accumulating Bitcoin in 2019, leveraging its abundant hydropower to support mining operations. Current on-chain data indicates that Bhutan holds approximately 6,154 BTC, valued at more than $562 million.
In July, the government unveiled a national initiative to integrate cryptocurrency payments into its tourism ecosystem. Supported by global partners, the program has already onboarded close to 1,000 merchants, aiming to simplify transfers, reduce friction for international visitors, and appeal to younger, digitally native travelers.
Bhutan Aligns With Global Accumulation Trends
Bhutan’s growing blockchain activity aligns with global patterns, where institutional participation in crypto—especially Bitcoin—continues to rise. Major holders increasingly shape market dynamics:
- Michael Saylor’s company leads corporate BTC reserves with 649,870 BTC,
- Marathon Holdings follows with 53,250 BTC,
- While the largest known trove remains tied to Satoshi Nakamoto, estimated at about 1.1 million BTC.
Bhutan’s latest ETH staking effort further cements its position as one of the few nations actively expanding its blockchain infrastructure, balancing sovereign digital innovation with long-term crypto asset strategies.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.