Bhutan Moves Wallet: Extending Months of Sovereign Outflows
Bhutan moves wallet, extending months of sovereign outflows, with 250 BTC transferred to a new wallet, valued at $18.46 million.
Bhutan's Bitcoin Reserves
The Royal Government of Bhutan has been reducing its publicly known bitcoin holdings, with outflows totaling 3,247 BTC in 2026, worth $240.4 million.
Historical Peak
Holdings peaked at 13,000 BTC in October 2024, with a cumulative reduction of 73% from that high.
Onchain Analysis
Onchain analysts have linked previous movements to possible sales, including a transfer of 250 BTC to a wallet used to route funds toward Galaxy Digital and OKX.
Bitcoin Mining Operations
Bhutan's bitcoin reserves were built through mining operations powered by its hydroelectric resources, with the last bitcoin inflow exceeding $100,000 into government wallets occurring over a year ago.
Key Takeaways
- 250 BTC transferred to a new wallet, valued at $18.46 million
- 3,247 BTC outflows in 2026, worth $240.4 million
- 73% reduction in holdings from the historical peak
- Bitcoin mining operations powered by hydroelectric resources
Frequently Asked Questions
What is the purpose of the latest transfer?
The purpose of the latest transfer has not been confirmed, but onchain analysts have linked previous movements to possible sales.
How has Bhutan's bitcoin reserves changed over time?
Bhutan's bitcoin reserves have been reduced by 73% from their historical peak, with outflows totaling 3,247 BTC in 2026.
