Bhutan’s authorities continue to actively reduce their bitcoin reserves.
On April 9, 2026, wallets linked to the government and the sovereign fund Druk Holding & Investments transferred 319.7 BTC▼$63,921.00 worth approximately $22.8 million.
Related: Bhutan Government Moves 520 BTC Worth $37 Million
According to Arkham Intelligence, Bhutan has withdrawn bitcoin (BTC) totaling $215.7 million since the start of 2026. Of that amount, $162.6 million went to previously unknown wallets. This indicates a likely sale of assets.
Reserve Reduction
At its peak in October 2024, the country’s reserves exceeded 13,000 BTC. According to the latest data, approximately 3,954 coins remain on the balance sheet. Thus, holdings have shrunk by roughly 70% from their peak.
Related: Bitcoin Price Jumps Above $70K Amid US-Iran Ceasefire
Bhutan accumulated bitcoin primarily through mining using cheap hydroelectric power. However, no significant inflows to state wallets have been recorded recently. The last major transfer exceeding $100,000 occurred over a year ago.
Country’s Plans
Despite selling a significant portion of its reserves, Bhutan continues to develop its cryptocurrency focus. In December 2025, authorities announced plans to allocate up to 10,000 BTC to develop the Gelephu Mindfulness City special administrative region. The funds were intended to attract investment, create jobs, and develop the digital economy.
Bhutan currently remains one of the largest government holders of bitcoin, ranking fifth in the world in terms of reserves after the United States, the United Kingdom, El Salvador, and the UAE.
Related: What Is a Strategic Bitcoin Reserve?
