The Kingdom of Bhutan's Bitcoin holdings have decreased by 66% from their peak, creating ongoing selling pressure on the market

By: rootdata|2026/03/26 14:47:42
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The Kingdom of Bhutan transferred 519.707 bitcoins (approximately $36.75 million) to external addresses on Wednesday, continuing its trend of reducing btc-42">bitcoin holdings since 2026.

On-chain data shows that the Bhutanese royal government currently holds 4,453 bitcoins, valued at approximately $315 million, a decrease of 66% from the peak of nearly 13,000 bitcoins at the end of 2024. The total outflow since the beginning of the year has exceeded $150 million. Bhutan's selling scale is accelerating, with transfers in January and February ranging from $5 million to $15 million each, and in March rising to $35 million to $45 million per transfer. The destination of Wednesday's transfer is consistent with the deposit patterns of trading platforms, but the specific whereabouts have not yet been confirmed. Unlike most countries that accumulate bitcoins through purchases, Bhutan's holdings come from its mining operations based on abundant hydropower resources. In December 2025, Bhutan committed to using up to 10,000 bitcoins for the development of the southern economic center Gelephu Mindfulness City project. This sovereign sale is one of the largest government bitcoin reduction actions on record, creating ongoing selling pressure in the market.

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