# Bhutan government Bitcoin wallet transfers

> Live situation record from CLSTR: https://clstr.news/situations/bhutan-government-bitcoin-wallet-transfers
> Updated: 2026-09-08T20:30:10.000Z. Sources: 5. Developments: 3.

The Royal Government of Bhutan has continued to significantly reduce its Bitcoin (BTC) reserves through large-scale transfers. On September 7, 2026, the state investment entity Druk Holding and Investments transferred 400 BTC, valued at approximately $31.78 million, out of government-linked wallets. This transaction appears to be a move toward liquidation and brings the nation’s total on-chain holdings down to 518 BTC, worth roughly $41 million.

This follows a pattern of aggressive reduction from a peak of approximately 13,390 BTC recorded in October 2024. The country originally accumulated these assets via large-scale Bitcoin mining operations utilizing its hydroelectric resources. Recent activity indicates a policy shift to decrease cryptocurrency exposure, involving the liquidation of not only Bitcoin but also smaller holdings of ETH and BNB. Previous transfers have moved assets to centralized exchanges like Binance and institutional entities such as Galaxy Digital and QCP Capital.

Earlier movements in August included a transfer of 300 BTC (valued at $19.3 million) to a new address, and a subsequent transfer of 490.87 BTC (valued at $32.74 million) on August 21. While such transfers to new addresses can be for custody or security purposes, the cumulative effect of these transactions has resulted in a massive decline in the government’s primary BTC holdings.

## Timeline

### 2026-09-08: Bhutan reduces Bitcoin reserves to 518 BTC following latest sale

Bhutan has transferred 400 BTC ($31.78M) out of government wallets, reducing its total holdings from a peak of 13,390 BTC to just 518 BTC as the nation continues to offload its cryptocurrency reserves.

2 sources. https://clstr.news/cluster/bhutan-reduces-bitcoin-reserves-to-518-btc-following-latest-sale

### 2026-08-21: Bhutan government transfers $32.7 million in Bitcoin to new wallets

The Royal Government of Bhutan transferred 490.87 Bitcoin, worth about $32.74 million, to new wallets amid a recent surge in Bitcoin's market price.

2 sources. https://clstr.news/cluster/bhutan-government-transfers-327-million-in-bitcoin-to-new-wallets

### 2026-08-18: Bhutan government transfers 300 Bitcoin to new wallet

The Royal Government of Bhutan transferred 300 Bitcoin, worth roughly $19.3 million, to a new wallet amid Bitcoin testing the $65,000 resistance level.

2 sources. https://clstr.news/cluster/bhutan-government-transfers-300-bitcoin-to-new-wallet

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Cite as: Bhutan government Bitcoin wallet transfers. CLSTR, https://clstr.news/situations/bhutan-government-bitcoin-wallet-transfers