Bhutan transfers 175 BTC as government reshuffles crypto reserves
The Kingdom of Bhutan has moved 175 BTC worth about $11.85 million from its main government wallet. The transaction was detected by blockchain analytics platform Arkham.
The coins were sent to an address created about a month ago, Cointelegraph reports.
The same address had previously received 184 BTC from the government. According to blockchain data, the transferred 175 BTC remain on the new wallet for now. However, the earlier transfer of 184 BTC was later sent to another address. Since 2024, this address has received a total of 1,910 BTC.
BTC sales occur periodically
Analysts note that Bhutan periodically sells part of its cryptocurrency reserves. According to Arkham, in February the country moved a similar amount of BTC for a sale through QCP Capital worth about $7 million.
The government usually sells cryptocurrency in relatively small batches of $5–10 million. The most active period of sales was observed in September 2025. These transactions allow the country to lock in profits from the rise in BTC’s price. At the same time, most of the reserves remain in long-term storage.
Bhutan ranks among the largest BTC holders
According to Arkham estimates, Bhutan currently holds around 5,400 BTC, making it the seventh-largest government holder of cryptocurrency. For comparison, the largest government BTC reserve belongs to the United States — about 328,372 BTC, worth nearly $22 billion.
Bhutan’s crypto assets are managed by the state investment fund Druk Holding and Investments. In addition to BTC, the fund also holds other digital assets. These include about 28 ETH and a small amount of the memecoin KiboShib. All transactions are conducted through the fund’s centralized management.
BTC is used to finance government spending
Bhutan began accumulating BTC after launching state-backed mining projects in 2019. The main energy source for mining has been the country’s hydropower. According to Arkham, the government has mined about 13,000 BTC in total. However, after the 2024 halving, mining profitability declined as the block reward dropped to 3.125 BTC.
Bhutan’s Prime Minister Tshering Tobgay previously said that revenue from BTC is used to fund healthcare, environmental projects, and salaries for public sector employees. During the summer, surplus hydropower makes mining particularly profitable for the country. As a result, Bhutan views cryptocurrency as a long-term source of income for the national economy.
Recently we wrote that the total cryptocurrency market capitalization has risen to about $2.38 trillion, gaining roughly 2.3% over the past 24 hours, while the Fear & Greed index climbed to 25, signaling a gradual improvement in investor sentiment.
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
