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The Royal Government of Bhutan has continued transferring its Bitcoin holdings. The country moved 250 BTC worth approximately 18 million dollars to a newly created wallet on Friday.
Highlights
- Bhutan transferred 250 BTC worth approximately 18 million dollars to a new wallet.
- Since the start of 2026, the country has withdrawn Bitcoin valued at 233.75 million dollars.
- Tracked reserves have shrunk to 3,774 BTC (≈272.5 million dollars).
- At its peak in 2024, Bhutan held around 13,000 BTC.
Scale of outflows
According to data from blockchain analytics firm Arkham, since the beginning of 2026, the country has withdrawn Bitcoin worth roughly $233.75 million from its known government-linked addresses. As a result, its tracked reserves have decreased to 3,774 BTC, currently valued at about $272.5 million.
For comparison, at its peak in October 2024, Bhutan held approximately 13,000 BTC — nearly 3.5 times more than its current holdings.
Management of assets
Bhutan’s Bitcoin reserves are managed by Druk Holding and Investments, the country’s sovereign investment arm, which has also overseen its Bitcoin mining and accumulation strategy in recent years. Large transfers to new wallets often precede potential sales, although no official confirmation has been provided.
At the time of publication, Bitcoin was trading above $72,000, up more than 1.3% in the last 24 hours.
Bhutan’s actions reflect a broader trend among some nations that aggressively accumulated Bitcoin in previous years and are now gradually reducing their positions. The significant decline in reserves from 13,000 BTC to under 4,000 BTC in just 18 months indicates a notable shift in the country’s approach to managing its cryptocurrency assets amid high market volatility and evolving geopolitical conditions.
Shift in Bhutan’s Sovereign Strategy
The ongoing transfers by Bhutan are drawing attention because the Himalayan kingdom was long regarded as one of the most consistent state-level Bitcoin accumulators.
The substantial reduction in its holdings may signal a reassessment of its long-term sovereign asset management strategy in response to cryptocurrency market volatility and changing global conditions.
Earlier, we reported that Bhutan Bitcoin reserves fall below 4,000 BTC after latest sell-off.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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