Royal Government of Bhutan Enters Crypto Space with Ethereum Stake
Bhutan has taken another significant step into the cryptocurrency space. New blockchain data reveals that the Royal Government of Bhutan has staked 320 Ether, an amount valued at approximately $970,000. This stake was facilitated through Figment, a company specializing in assisting institutions with running validators and securing proof-of-stake networks. This strategic move underscores Bhutan's increasing interest in Ethereum and its broader ambition to play a more prominent role in blockchain development.
Digital ID Project Transitions to Ethereum
Bhutan is actively transitioning its national digital identity system to the Ethereum blockchain. This ambitious project is designed to empower citizens to verify their identities and access government services directly through the network. The transition commenced in October and is anticipated to be fully operational by early 2026. The launch event was attended by notable figures, including representatives from the Ethereum Foundation and Bhutan's prime minister, marking a significant milestone for national digital identity initiatives on Ethereum.
Bhutan Deepens Its Crypto Footprint
Over the years, Bhutan has progressively expanded its involvement in the cryptocurrency sector. The nation initiated Bitcoin mining in 2019, leveraging its abundant hydropower resources. Current data indicates that Bhutan holds approximately 6,154 BTC, a holding worth over half a billion dollars at current market prices. This diversification into digital assets reflects a forward-thinking approach to financial management and technological integration.
Bhutan’s Gelephu City Adds Crypto to Its Reserves
Gelephu Mindfulness City (GMC) in Bhutan has announced that it will include Bitcoin ($BTC), Ethereum ($ETH), and Binance Coin ($BNB) as part of its financial reserves.
This makes GMC the first in South Asia to use digital… pic.twitter.com/TNslbd0ya3
— CryptoTvplus (@Cryptotvplus) January 8, 2025
In addition to its financial holdings, Bhutan is also exploring the use of cryptocurrency to bolster its tourism sector. In July, officials unveiled a plan to enable visitors to make payments using digital assets throughout the country. This initiative has already attracted nearly 1,000 merchants and aims to streamline payment processes for travelers while modernizing the nation's financial infrastructure.
Bhutan stands out as one of the few governments to hold substantial reserves of both Bitcoin and Ethereum. Its proactive engagement with digital assets aligns with a broader trend of increasing institutional adoption and influence in the cryptocurrency market. Major corporations and governments are now playing a more significant role in shaping the digital asset landscape.
Ethereum 🤝 Bhutan
This is cool – Bhutan just integrated the BhutanNDI system with Ethereum.
Vitalik and Aya joined the ceremony with the Prime Minister and Crown Prince.
BhutanNDI is a private SSI system for verifiable credentials on-chain for anything citizen related 🇧🇹 pic.twitter.com/Lxi7vlGl43
— timour kosters (@timourxyz) October 13, 2025
Market Implications of Bhutan's Ethereum Stake
Bhutan's $970,000 Ethereum stake highlights the consistent institutional interest in the network. As nations increasingly explore and adopt blockchain technologies for various applications, Ethereum's utility in digital identity management and public systems is poised for continued expansion. This development may contribute to sustained confidence in ETH and bolster activity within the validator ecosystem.