Bhutan’s Government Moves Another 400 Bitcoin, On-Chain Data Shows

Bhutan’s royal government has transferred another 400 bitcoin, according to monitoring from blockchain analytics platform Lookonchain. The transaction was valued at approximately $30.62 million at the time of transfer.

Repeat Activity From Known Government Wallet

This marks another movement from a bitcoin address linked to the Bhutanese government, which has been tracked by on chain analysts for similar transfers in the past. The exact purpose of the transfer has not been disclosed.

Bhutan’s Long-Standing Bitcoin Mining Operations

Bhutan has mined bitcoin for years through its state investment arm, Druk Holding, using the country’s abundant hydropower resources. The government has periodically moved portions of its holdings, though it rarely comments publicly on the timing or reasoning behind individual transactions.

Bitcoin was trading near $76,500 at the time of the transfer, as the asset continues to see close attention from market watchers following recent price swings tied to shifts in global bond yields and broader risk sentiment.