Bhutan's Bitcoin Reserve Drops 87% Since 2024 Peak
Bhutan's Bitcoin reserve has dropped significantly since its peak in October 2024. According to data from CoinMarketCap, the country's holdings have fallen by 87% to 1,749.96 BTC, worth around $113.7 million.
The decline follows a recent transfer of 533 BTC, valued at approximately $34.5 million, sent from Druk Holding and Investments, Bhutan's state investment wing, to Binance. This is not an isolated incident, as similar transfers have been observed in the past, with a 100.44 BTC transaction worth $8.2 million being identified in May 2026.
Bhutan's Bitcoin holdings originated from domestic mining operations powered by hydroelectric energy, a notable difference from other nation-state holders that built their reserves through law-enforcement seizures of criminal assets.