Bhutan Sells 70% of Bitcoin Holdings, Reducing Stash to 3,954 BTC

Bhutan has sold approximately 70% of its bitcoin holdings over the past 18 months.

Holdings dropped from roughly 13,000 BTC to 3,954 BTC worth about $280.6 million.

@coindesk

The Royal Government transferred roughly 319.7 BTC worth $22.68 million to two addresses.

Arkham data shows $215.7 million moved out this year alone.

Bhutan is the only sovereign-level holder visibly liquidating.

Bhutan's bitcoin was accumulated through a hydropower-backed mining operation.

Arkham data shows Bhutan's last bitcoin inflow exceeding $100,000 was recorded more than a year ago.

@coindesk

Druk Holding has not responded to multiple inquiries.

Bitcoin traded above $90,000 when the operation was viable.

Now trades near $71,000 with network difficulty at all-time highs.

Bhutan's bitcoin experiment was one of the most unusual sovereign ventures.

“The Royal Government of Bhutan has moved another chunk of its bitcoin reserves, transferring roughly 319”

Bitbo

The IMF noted Bhutan's Royal Monetary Authority acquired $539 million in DHI securities.

The liquidation underscores the economic strain on small-scale state bitcoin mining.

Bhutan's remaining 3,954 BTC is now smaller than what Strategy purchases in a typical week.