Bhutan Unloads $32 Million Worth of Bitcoin
Bhutan's Bitcoin transfers continue to make headlines, with the latest move seeing the Royal Government of Bhutan shift 490.87 BTC worth approximately $32.74 million into fresh wallets over a single 24-hour window.
This is not an isolated incident, as the country has been moving significant amounts of Bitcoin throughout 2026, raising questions about whether it's selling down its holdings or simply reshuffling them.
The majority of the transfer - 485 BTC worth $32.31 million - was made in a single transaction, leaving many wondering where these coins are ultimately headed.
Bhutan has been building its Bitcoin position through state-backed mining, fueled by hydroelectric power, and has continued to scale this infrastructure through a partnership with Bitdeer Technologies.
The country's tracked Bitcoin holdings peaked at over 13,000 BTC in October 2024 but have since fallen to around 4,453 BTC as of March 25, 2026.