Particle.news
Download on the App Store
8 ARTICLES
·
last wk.

Bhutan Moves 175 Bitcoin, Pushing State Outflows Past $42 Million

On-chain data points to periodic $5–$10 million clips that signal a measured approach to managing the sovereign stash.

Bhutan moves $11m in bitcoin as arkham flags fresh sovereign transfer
Bhutan sells $42.5 million of bitcoin in 2026 as national stack drops 58% from peak
Image
Bhutan executes $11.85m bitcoin transfer as royal government repositions btc holdings

Overview

  • Arkham Intelligence tracked a 175 BTC transfer on March 9 worth about $11.85–$12 million from one of Bhutan’s primary holding addresses as bitcoin traded near $68,500.
  • The latest movement brings 2026 government-related bitcoin transfers to more than $42 million, according to Arkham’s on-chain analysis.
  • Arkham has observed Bhutan executing smaller batches of roughly $5–$10 million, including a mid-February sale of about $7 million routed through QCP Capital.
  • Bhutan remains a top-ten sovereign holder with approximately 5,425 BTC valued near $372 million, keeping its rank around seventh globally.
  • The holdings are linked to Druk Holding & Investments, and reporting is based on blockchain analytics rather than an official government statement.