Overview
- Arkham Intelligence tracked a 175 BTC move on March 9–10 from wallets tied to Druk Holding and Investments to a previously used receiving address.
- Transfers this year total roughly $42.5 million, including February sends of 184 BTC, about 200 BTC to QCP Capital, and a $1.5 million USDT deposit to a Binance hot wallet.
- Bhutan’s holdings have declined to about 5,400 BTC worth roughly $374 million, down 58% from a late‑2024 peak near 13,000 BTC as both sales and price drops reduced value.
- Most of the state’s reserve was mined using surplus hydropower, giving an effectively near‑zero cost basis that makes the ongoing sales net revenue.
- Officials have said proceeds fund healthcare, environmental programs, and public salaries, and the government has pledged up to 10,000 BTC toward the Gelephu Mindfulness City project.