The Bhutanese government is staking nearly one million dollars in Ether to advance its blockchain national strategy.

Source: PortaldoBitcoin Original Title: Bhutan increases its bet on crypto and stakes nearly US$ 1 million in Ethereum Original Link: Bhutan has taken another key step in its strategy to integrate blockchain into national infrastructure. This Thursday, on the 27th of (, on-chain analyst Lookonchain disclosed on the X platform using Arkham data that the Bhutanese government deposited 320 ETH—approximately 1 million USD into the staking platform Figment, which specializes in providing institutional-grade Ethereum solutions.

According to Lookonchain data, wallets associated with the government still have sufficient funds: over $1 million in ETH available, along with a large amount of BTC. This is because Bhutan is a Bitcoin holder, with $560 million in BTC held in wallets, according to on-chain data.

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

According to relevant information, these assets are managed by Druk Holding and Investments, a state-owned enterprise of Bhutan 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 introduced in October, with Vitalik Buterin and Ethereum Foundation Chair Aya Miyaguchi in attendance.

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

The new digital identity system is underway: 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.