Bhutan's Cryptocurrency Holdings Plummet After $30.62 Million Transfer

Bhutan has made significant movements in its cryptocurrency holdings, transferring 400 BTC to an unknown address. The move reduces the country's tracked sovereign Bitcoin holdings from a peak of 13,000 BTC in October 2024 to 518 BTC.

The transfer is linked to Druk Holding and Investments, Bhutan's sovereign wealth fund, which has been moving Bitcoin to exchanges and trading desks throughout 2026. This large outflow could impact Bitcoin market supply and signal potential sell pressure from a sovereign holder.