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Bhutan Government Stakes and Transfers ETH in Strategic Blockchain Moves

Bhutan Government Stakes and Transfers ETH in Strategic Blockchain Moves

Bhutan’s government continues active Ethereum asset management with a $497,000 transfer potentially linked to QCP Capital, following recent validator staking operations.

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Fact Check
The statement is strongly supported by multiple, consistent sources that cite on-chain data as their evidence. A high-authority on-chain analytics platform, Lookonchain, directly confirms that the Government of Bhutan transferred 320 ETH to Figment for staking. This core claim is corroborated by reports from Bitget and a post on Binance's platform, both of which also reference on-chain monitoring. The specific valuation of $970,000 is mentioned in the Bitget report and represents a plausible market price for 320 ETH at the time of such a transaction. There are no contradictions among the provided sources. While there is no direct confirmation from the Bhutanese government or Figment about this specific transaction within the provided documents, the convergence of multiple reports based on transparent on-chain data makes the claim highly credible.
Summary

On December 1, 2025, Bhutan’s royal government moved 175.44 ETH worth $497,000 to a wallet suspected of association with QCP Capital, according to Onchain Lens monitoring. This transaction follows the November 27 staking of 320 ETH via Figment.io, establishing 10 Ethereum validators. It marks Bhutan’s largest Ethereum activity since a 570 ETH transfer to Binance in May. Bhutan’s actions form part of a sovereign blockchain strategy supporting Ethereum’s proof-of-stake network and the planned migration of its national digital identity project from Polygon to Ethereum. The country also holds approximately 6,154 BTC as part of its crypto reserves.

Terms & Concepts
  • ETH (Ethereum): A cryptocurrency and blockchain platform used for decentralized applications and smart contracts.
  • Staking: Locking cryptocurrency in a network to support operations and earn rewards.
  • Validator: A participant in a proof-of-stake blockchain who locks tokens to propose and validate new blocks, securing the network.