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Bhutan government Bitcoin wallet transfers

Updated 1 time since CLSTR started tracking revisions of this situation.

What changed

2026-08-21 08:58 UTC → 2026-09-09 09:39 UTC · added removed

The Royal Government of Bhutan has conducted multiple large-scale transfers of continued to significantly reduce its Bitcoin (BTC) to new digital wallets. reserves through large-scale transfers. On August 18, September 7, 2026, the government moved 300 state investment entity Druk Holding and Investments transferred 400 BTC, valued at approximately $19.3 $31.78 million, out of government-linked wallets. This transaction appears to be a newly created address. move toward liquidation and brings the nation’s total on-chain holdings down to 518 BTC, worth roughly $41 million. This followed previous transactions in July where more than $43 million 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 was sold. On 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 21, included a further transfer of 300 BTC (valued at $19.3 million) to a new address, and a subsequent transfer of 490.87 BTC, valued BTC (valued at roughly $32.74 million, was transferred million) on August 21. While such transfers to new wallets, with a single transaction accounting addresses can be for 485 BTC. While these movements have sparked speculation regarding potential liquidations, it remains unclear if the government is selling assets custody or managing state reserves for security and custody purposes. Blockchain data indicates purposes, the cumulative effect of these transactions has resulted in a significant reduction massive decline in the government’s primary BTC holdings, which decreased from approximately 13,000 BTC in October 2024 to 967 BTC following these recent activities. holdings.

Versions

  1. 2026-09-09 09:39 UTC Bhutan government Bitcoin wallet transfers
  2. 2026-08-21 08:58 UTC Bhutan government Bitcoin wallet transfers

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