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Bhutan Government Unloads 490 BTC Amidst Bitcoin Price Rally

Guavy AI Editorial Team
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The Royal Government of Bhutan has transferred over 490 BTC from its primary wallet to new wallets, sparking concerns about a potential selloff.

According to Onchain Lens data, the transfer was worth nearly $32.74 million and took place amidst a Bitcoin price rally above $75K.

The largest single transfer was 485 BTC, valued at almost $32.31 million, with the new wallet now holding over 2018 BTC worth $152 million.

This is not the first time Bhutan has moved its holdings, as it transferred 300 BTC in a previous transaction.

The government's Bitcoin holdings have dropped from roughly 13,000 BTC in October 2024 to 967 BTC currently.

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