Bhutan Stakes $970K in Ether as Part of Crypto Expansion
- The Royal Government of Bhutan has staked 320 Ether (ETH) valued at approximately $970,000 through Figment.
- This staking initiative is part of Bhutan’s strategy to expand its crypto holdings and validator operations.
- In October, Bhutan began migrating its digital ID system from Polygon to Ethereum, enhancing identity verification for residents.
- The country holds around 6,154 BTC worth over $562 million, accumulated since it started mining Bitcoin in 2019.
- Bhutan aims to modernize its tourism sector by integrating cryptocurrency payments, with nearly 1,000 merchants already onboarded.
Bhutan’s latest activities reflect a significant commitment to digital assets, aligning with global trends in institutional Bitcoin accumulation and the growing adoption of blockchain technologies for public services.
With the recent staking of 320 ETH, Bhutan continues to solidify its position as a forward-thinking nation in the cryptocurrency landscape.(Source)
