Bhutan Moves $72 Million in Bitcoin Amid Rising Outflows

The Bhutan has shifted significant portions of its crypto holdings, moving 973 BTC valued at about $72.3 million across multiple transactions within two days. On-chain data from Arkham Intelligence shows that an additional $44.44 million in bitcoin was sent to two unidentified wallet addresses, contributing to the total outflow.

Druk Holding Wallet Activity and OTC Transfer

The transfers originated from wallets linked to Druk Holding & Investments, the country’s sovereign wealth fund. Notably, 20.5 BTC, worth roughly $1.52 million, was directed to QCP Capital, indicating over-the-counter activity. These movements push Bhutan’s total bitcoin transfers above $110 million in 2026 alone.

Declining Holdings and Mining Uncertainty

Data indicates Bhutan now holds 4,453 BTC, down from over 13,000 BTC in October 2024. The lack of major inflows for more than a year suggests a possible halt in bitcoin mining operations despite the country’s reliance on hydroelectric-powered mining infrastructure tied to Bitcoin.

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.