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This move adds to a growing wave of Ethereum-focused activity from Bhutan. In October, the South Asian country of about 800,000 residents began migrating its self-sovereign digital ID system from Polygon to Ethereum, allowing residents to verify their identities and access government services on the network.
Ethereum integration is already live and all resident credentials are expected to be fully migrated by early 2026, Ethereum Foundation President Aya Miyaguchi said at the launch of the event alongside Vitalik Buterin and Bhutan’s Prime Minister Tshering Tobgay.
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Bhutan Expands Crypto Footprint
Bhutan has been relying on digital assets for years. In 2019, the country began quietly accumulating Bitcoin by tapping into its hydropower resources to mine the cryptocurrency. According to Arkham data, it contains approximately 6,154 BTC worth over $562 million at current prices.
In July, Bhutan announced plans to boost its tourism industry and attract younger travelers by integrating cryptocurrency payments across the country. Officials said the move, backed by Binance, has nearly 1,000 affiliated merchants and aims to modernize bank transfers and reduce friction for tourists.
Bhutan’s growing activity reflects broader trends in institutional and corporate Bitcoin accumulation, with large holders having become increasingly influential in the market.
Among BTC corporate bond holders, Michael Saylor’s strategy dominates with 649,870 BTC, while Marathon Holdings is distant in the rankings. second with 53,250 BTC.
The largest known Bitcoin supply in the world is still owned by Satoshi Nakamoto, the pseudonymous creator of the network, who is estimated to control around 1.1 million BTC.
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