Bhutan’s Royal Government moved 175 bitcoin worth about $11.85 million on Monday as the country adjusted holdings from wallets linked to its sovereign investment arm.
Blockchain data tracked by Arkham Intelligence shows the transfer occurred as bitcoin traded near $68,600, marking Bhutan’s latest transaction after a similar movement recorded on Feb. 12, 2026.
Bhutan is among a small group of governments holding bitcoin reserves and differs from many peers by mining the cryptocurrency domestically rather than acquiring it through seizures or market purchases.
The country’s digital assets are managed by Druk Holding & Investments, Bhutan’s state investment arm that operates similarly to a sovereign wealth fund overseeing national assets across multiple sectors.
When Bhutan sells portions of its bitcoin reserves, the proceeds have previously been used to support public spending and development projects, including infrastructure and higher civil servant salaries.
The latest transfer followed the same pattern seen in February, beginning with a 0.0001 BTC test transaction before the full 175 BTC was moved to a previously used P2WPKH wallet address.
Following the transaction, Bhutan still holds roughly 5,424.7 BTC valued at about $372 million, alongside a smaller holding of around 27.65 ether, according to Arkham data.
At the time of reporting, Bitcoin price was $68,405.96.