Kingdom of Balkhara is the subject of a fringe theory on the originating homeland of the Bulgar people. It is popularised by some Bulgarian historians (for example: Georgi Bakalov, Petar Dobrev, Ian Mladjov) to have been the earliest known state of the Bulgars, situated in the upper course of Oxus River (present Amu Darya), and the foothills and valleys of Hindu Kush and Pamir Mountains (ancient Mount Imeon). Peter Dobrev places the date of the kingdom around the 12th century BC.
The theory is based on the presumed relationship between the Bactria-Margiana Archaeological Complex and the Bulgars.
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