The Bhutan government has transferred another 250 Bitcoin worth approximately $18 million to a newly created wallet, according to data from Arkham. The movement adds to a broader pattern of outflows from state-linked addresses observed throughout 2026.
Arkham data shows that Bhutan has now moved about $233.75 million worth of Bitcoin out of its tracked wallets this year, contributing to a steady reduction in its known holdings.
Sovereign Bitcoin Holdings Fall Sharply from Peak Levels
Bhutan’s remaining balance is estimated at around 3,774 BTC, valued near $272.5 million at current market prices. This represents a significant decline from its peak holdings of nearly 13,000 BTC recorded in October 2024, marking a drawdown of more than 70%.
The country’s Bitcoin strategy is managed by Druk Holding and Investments, which oversees both accumulation and mining-related activities tied to the nation’s digital asset portfolio.
Market Context and Uncertainty Around Transfers
The purpose of the latest transfer has not been disclosed, though large movements from sovereign wallets are often interpreted by markets as potential preparation for asset sales. No official confirmation has been provided regarding liquidation plans.
Despite the transfers, Bitcoin continues to trade above $72,000, showing a modest 24-hour gain. However, the asset remains significantly below its all-time high of nearly $126,000 reached in late 2025, reflecting broader volatility across the crypto market.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.