Bhutan transfers 400 BTC to unlabelled address
- Bhutan has transferred about 400 Bitcoin (CRYPTO:BTC), worth roughly US$30.62 million, to an unlabelled address.
- The move has left about 518 BTC in tracked government-linked holdings.
- Bhutan’s tracked holdings have fallen about 96% from their 13,000 BTC peak in October 2024.
Bhutan has transferred about 400 Bitcoin (CRYPTO:BTC), worth roughly US$30.62 million, to an unlabelled external address.
The transfer has left about 518 BTC in tracked holdings linked to the Royal Government of Bhutan.
Bhutan’s tracked Bitcoin holdings have fallen about 96% from their peak of 13,000 BTC in October 2024.
Most of Bhutan’s recent Bitcoin movements have been linked to Druk Holding and Investments, the country’s sovereign wealth fund.
The fund has transferred Bitcoin to Binance, Galaxy Digital and QCP Capital during 2026, including a 533 BTC transfer to Binance in June.
The latest destination has not been labelled, so the transfer does not confirm that Bhutan has sold the Bitcoin or explain its purpose.
Bhutan built its Bitcoin holdings through state-backed hydropower mining from 2019, while mining inflows into its tracked wallets have slowed significantly.
At the time of reporting, Bitcoin price was $79,193.07.
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