Bhutan Moves $8.1M in Bitcoin as Sell-Off Continues
Bhutan has sold about $230 million in Bitcoin since early 2026, currently holding approximately $252 million (about 3,100 BTC), down from almost 13,000 BTC in late 2024. Recent transfers, including a movement of 100 BTC ($8.1 million), are part of uneven but ongoing treasury management rather than pessimism about Bitcoin’s future. At the current rate of monthly selling, Bhutan could run out of Bitcoin by September, though past sales have occurred in bursts rather than at a steady pace. The country’s holdings stem from state-backed Bitcoin mining launched in 2019 using hydropower, making their sales largely profitable. Proceeds support national development projects, including funding Gelephu Mindfulness City, which is promoting itself as a crypto-friendly Special Administrative Region. Despite selling Bitcoin, Bhutan continues to advance its broader crypto initiatives, offering streamlined licensing and banking services to attract global digital asset firms. Analysts highlight Bhutan’s approach as a shift in sovereign reserve strategy, actively managing and monetizing Bitcoin to balance development needs and investment exposure.
