Bhutan Invests $970K in ETH Through Figment to Expand Validator Efforts

The Royal Government of Bhutan has staked approximately $970,000 worth of Ether (320 ETH) using Figment, a company that specializes in staking services for large investors and institutions seeking to earn rewards by securing proof-of-stake networks.

Key Takeaways

Bhutan has staked $970K in Ether for validator efforts via Figment.
The country is shifting its digital ID system from Polygon to Ethereum, enhancing local digital services.
Bhutan has been active in cryptocurrency since 2019 and holds around 6,154 BTC valued at over $562 million.
The integration of cryptocurrency payments aims to modernize tourism and attract younger travelers.

Bhutan stakes $970K ETH via Figment in validator push

Bhutan's Growing Involvement in Cryptocurrency

Bhutan's engagement with digital assets is gaining momentum. The nation, which has a population of about 800,000, began moving its self-sovereign digital ID system from Polygon to Ethereum in October. This change will allow residents to verify their identities and access governmental services more efficiently. According to Aya Miyaguchi, president of the Ethereum Foundation, the full migration of resident credentials to the Ethereum network is anticipated by early 2026.

Satoshi Nakamoto, Ukraine, China, United States, United Kingdom, Bhutan _Bhutan crypto transfers. Source: Arkham

Expanding Bhutan's Crypto Influence

Bhutan has been investing in digital assets for several years. In 2019, the country began discreetly acquiring Bitcoin, utilizing its hydropower resources to mine this popular cryptocurrency. As of now, Bhutan possesses around 6,154 BTC, which translates to more than $562 million based on current market prices.

In July, Bhutan outlined plans to enhance its tourism sector by incorporating cryptocurrency payments nationwide. This initiative, backed by Binance, aims to onboard nearly 1,000 merchants, streamlining transactions for tourists and modernizing wire transfer processes.

Bhutan's actions reflect a broader trend of institutional and corporate Bitcoin accumulation, where significant holders are increasingly impacting the market. For example, Michael Saylor's company, MicroStrategy, leads corporate Bitcoin treasuries with 649,870 BTC, while Marathon Holdings follows with a much smaller stash of 53,250 BTC. The largest known Bitcoin reserve remains with Satoshi Nakamoto, whose estimated control is about 1.1 million BTC.

Conclusion

As Bhutan continues to solidify its position in the digital asset landscape, the recent stake in Ether through Figment exemplifies its commitment to blockchain technology. The nation's strategic moves in integrating cryptocurrency with government services underscore its ambition to modernize while attracting global interest—setting an impactful example for other nations within the crypto sphere.