Greenland (Kalaallit Nunaat) is the world's largest island.
Autonomous territory within the Kingdom of Denmark (since 1979 Home Rule, 2009 Self-Government Act). Denmark handles foreign policy, defense, currency (DKK), and Supreme Court. Greenland controls minerals, fisheries, education, health, policing.
Australia (7.6M km²) is a continent (geologically on its own tectonic plate). Greenland sits on the North American plate. The island/continent boundary is geological, not just size.
Thule Air Base (US Space Force), Arctic shipping routes (Northwest Passage, Northern Sea Route), critical minerals — Greenland is a geopolitical flashpoint (see: 2019 US purchase offer).