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      Bhutan Transfers 400 BTC, Reducing Sovereign Holdings to 518 BTC

      The Royal Government of Bhutan has transferred approximately 400 Bitcoin, valued at around $30.62 million, to an unidentified external address. This move reduces the country's labeled on-chain Bitcoin holdings to about 518 BTC, a significant drop from a peak of approximately 13,000 BTC in October 2024, marking a decline of roughly 96%.

      The transfers are primarily attributed to Druk Holding and Investments, Bhutan's sovereign wealth fund, which has been actively routing Bitcoin to various counterparties throughout 2026. Notable recipients of these transfers have included major exchanges and trading firms such as Binance and Galaxy Digital. In June alone, a single transaction saw 533 BTC moved to Binance, reflecting a pattern of transactions typically ranging from 300 to 500 BTC.

      Historically, Bhutan has approached its Bitcoin holdings with caution, framing transfers as liquidity management rather than outright sales. The country began accumulating Bitcoin through state-backed hydropower mining in 2019, leveraging its renewable energy resources. However, mining inflows to labeled wallets have been minimal for over a year, contributing to the decline in holdings. In December 2025, Bhutan pledged up to 10,000 BTC for the development of the Gelephu Mindfulness City project, which may account for some of the decrease in labeled holdings, though the specifics remain unclear.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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