Bhutan's Government Transfers $19.28M in Bitcoin to New Wallet

Bhutan's government has transferred 300 BTC to a newly created wallet address, valued at approximately $19.28 million, according to blockchain tracking firm Onchain Lens.

The transaction was detected recently and adds to a series of on-chain movements from the country's digital asset reserves.

Bhutan is one of the few governments that actively holds and manages Bitcoin as part of its sovereign wealth strategy. The country's investment arm, Druk Holding and Investments, has been involved in cryptocurrency mining and accumulation since 2019, leveraging the nation's abundant hydropower resources.

The transfer to a new wallet may indicate a custody change or internal treasury management, but the exact purpose is not yet confirmed.