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Blockchain data shows the Royal Government of Bhutan has staked 320 Ether (<a href="/ethereum-price" rel="noopener noreferrer">ETH</a>) worth about $970,000 through Figment, marking the latest onchain activity from the Himalayan state as it expands its crypto holdings and validator operations.
Figment is a staking provider that helps large investors and institutions stake digital assets across multiple blockchains and earn rewards for securing proof-of-stake networks.
The move adds to a growing wave of Ethereum-focused activity from Bhutan. In October, the South Asian nation of roughly 800,000 people began migrating its <a href="https://cointelegraph.com/news/bhutan-migrates-ethereum-national-id" rel="noopener noreferrer nofollow" target="https://cointelegraph.com/news/bhutan-migrates-ethereum-national-id">self-sovereign digital ID</a> system from Polygon to Ethereum, allowing residents to verify their identities and access government services on the network.
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 <img alt="Satoshi Nakamoto, Ukraine, China, United States, United Kingdom, Bhutan" src="https://s3.cointelegraph.com/uploads/2025-11/019ac6ee-ca0f-7007-a318-37dc525a8dbb" title="">
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 Bhutan crypto transfers. Source: <a href="https://intel.arkm.com/explorer/entity/druk-holding-investments" rel="noopener noreferrer nofollow" target="_blank">Arkham</a> 
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The Ethereum integration is already live, with all resident credentials expected to be fully migrated by early 2026, said Ethereum Foundation president Aya Miyaguchi at the event launch alongside Vitalik Buterin and Bhutan’s prime minister, Tshering Tobgay.
Related: <a href="https://cointelegraph.com/news/bitcoin-significant-step-forward-97k-btc-price-targets-return" rel="noopener noreferrer nofollow" target="_self">Bitcoin sees ‘significant step forward’ as $97K BTC price targets return</a>
<h2 id="bhutan-expands-crypto-footprint">Bhutan expands crypto footprint</h2>
Bhutan has been leaning into digital assets for years. In 2019, the country quietly began accumulating Bitcoin by tapping its hydropower resources to mine the cryptocurrency. It holds about 6,154 BTC worth over $562 million at current prices, according to Arkham data.&nbsp;
In July, Bhutan announced <a href="https://cointelegraph.com/news/bhutan-crypto-tourism-binance-adoption" rel="noopener noreferrer nofollow">plans to boost its tourism industry</a> and attract younger travelers by integrating cryptocurrency payments across the country. Officials said the move, supported by Binance, has nearly 1,000 onboarded merchants and is meant to modernize wire transfers and reduce friction for tourists.
Bhutan’s growing activity mirrors broader trends in institutional and corporate Bitcoin accumulation, where large holders have become increasingly influential in the market.
Among corporate BTC treasury holders, <a href="https://cointelegraph.com/news/strategy-btc-rating-debt-safe-bitcoin-slumps" rel="noopener noreferrer nofollow" target="_self">Michael Saylor’s Strategy</a> dominates with 649,870 BTC, while Marathon Holdings ranks a distant <a href="https://bitcointreasuries.net" rel="noopener noreferrer nofollow" target="_blank">second</a> with 53,250 BTC.
The world’s largest known Bitcoin stash still belongs to Satoshi Nakamoto, the pseudonymous creator of the network, who is estimated to <a href="https://cointelegraph.com/magazine/value-of-legacy-hunting-down-satoshi-bitcoin/" rel="noopener noreferrer nofollow" target="_self">control</a> about 1.1 million BTC.
Magazine: <a href="https://cointelegraph.com/magazine/10-crypto-theories-that-missed-as-badly-as-peter-todd-is-satoshi/" rel="noopener noreferrer nofollow" target="_self">10 crypto theories that missed as badly as ‘Peter Todd is Satoshi’</a>

Bhutan stakes $970K ETH via Figment in validator push

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Other articles published on Nov 27, 2025

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