Bhutan Moves $18M in Bitcoin as Government Holdings Continue to Drop

Bhutan has transferred another 250 BTC (about $18 million) to a new wallet, continuing a trend of moving funds out of its known bitcoin holdings, according to Arkham data.

So far in 2026, Bhutan has moved roughly $233.75 million in BTC, significantly reducing its reserves. The country now holds about 3,774 BTC, worth around $272.5 million.

At its peak in October 2024, Bhutan held nearly 13,000 BTC, meaning its holdings have dropped by more than 70%.

The reason for the latest transfer is unclear. Large movements from government-linked wallets can sometimes signal potential selling, but no official statement has been made.

Bhutan’s crypto assets are managed by Druk Holding and Investments, which also oversees the country’s bitcoin mining strategy.

Meanwhile, Bitcoin is trading above $72,000, up about 1.3% in the last 24 hours, but still around 43% below its all-time high from October 2025.