{"id":141075,"date":"2026-03-10T15:40:54","date_gmt":"2026-03-10T15:40:54","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=141075"},"modified":"2026-03-10T15:40:54","modified_gmt":"2026-03-10T15:40:54","slug":"bhutan-keeps-selling-its-bitcoin-reserves-sold-by-over-half","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=141075","title":{"rendered":"Bhutan Keeps Selling Its Bitcoin, Reserves Sold by Over Half"},"content":{"rendered":"

Bitcoin Magazine<\/a><\/p>\n

Bhutan Keeps Selling Its Bitcoin, Reserves Sold by Over Half<\/a><\/p>\n

<\/div>\n

Bhutan\u2019s state-owned investment arm has steadily sold portions of the country\u2019s Bitcoin reserves, moving about $42.5 million in BTC and USDT so far in 2026 through a small set of recurring counterparties.<\/p>\n

Data from blockchain analytics firm Arkham Intelligence shows<\/a> that the Royal Government of Bhutan transferred 175 BTC, valued at $11.85 million, on Monday to an address that had previously received 184 BTC in February.\u00a0<\/p>\n

The February activity included multiple transfers totaling roughly $30.7 million, including two sends to QCP Capital, a trading firm, and a $1.5 million USDT transfer to a Binance hot wallet.<\/p>\n

The pattern suggests a planned treasury drawdown and liquidity management strategy rather than panic selling. Bhutan mined much of its Bitcoin<\/a> using surplus hydropower, giving the government a near-zero cost basis. Every sale, therefore, represents a profit for the state.<\/p>\n

Bhutan\u2019s Bitcoin stack peaked around 13,000 BTC in late 2024, after several years of accumulation through state-backed mining operations.\u00a0<\/p>\n

tSince then, the holdings have fallen to approximately 5,400 BTC, a 58% reduction.\u00a0<\/p>\n

Dollar value has also dropped due to the decline in Bitcoin prices from roughly $126,000<\/a> at the peak to around $69,000 today. Holdings once worth over $1.5 billion are now valued near $374 million.<\/p>\n

Druk Holding and Investments (DHI), Bhutan\u2019s sovereign wealth fund, manages<\/a> the country\u2019s cryptocurrency assets.\u00a0<\/p>\n

Bhutan is one of the world\u2019s largest bitcoin holders<\/h2>\n

The fund oversees state-owned enterprises and acts as the principal financial arm of the government. In December, Bhutan pledged<\/a> up to 10,000 BTC to fund Gelephu Mindfulness City, a special economic zone designed to hold digital assets for its financial reserves.<\/p>\n

The transfers have consistently gone to the same counterparties in similar sizes, with no clear correlation to price movements. This pattern points to structured liquidity management rather than reactive selling.<\/p>\n

Bhutan ranks as the seventh-largest government Bitcoin holder, behind the first place United States, which holds 328,372 BTC valued at nearly $22 billion.\u00a0<\/p>\n

Bhutanese Prime Minister Tshering Tobgay has previously noted that Bitcoin proceeds support public services, including healthcare, environmental initiatives, and salaries for public employees.\u00a0<\/p>\n

Surplus hydropower generated during summer months has enabled the kingdom to continue state-backed mining operations efficiently.<\/p>\n

Since the 2024 Bitcoin halving, mining rewards declined<\/a> to 3.125 BTC, reducing overall profitability and prompting some energy resources to be redirected to high-performance computing.\u00a0<\/p>\n

This post Bhutan Keeps Selling Its Bitcoin, Reserves Sold by Over Half<\/a> first appeared on Bitcoin Magazine<\/a> and is written by Micah Zimmerman<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin Magazine Bhutan Keeps Selling Its Bitcoin, Reserves Sold by Over Half Bhutan\u2019s state-owned investment arm has steadily sold portions of the country\u2019s Bitcoin reserves, moving about $42.5 million in BTC and USDT so far in 2026 through a small set of recurring counterparties. Data from blockchain analytics firm Arkham Intelligence shows that the Royal […]<\/p>\n","protected":false},"author":0,"featured_media":141076,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-141075","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/141075"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=141075"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/141075\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/141076"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=141075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=141075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=141075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}