Bhutan sells 2,584 Bitcoin worth $248 million in 40 days

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Grafa2025/05/05 05:50

By:Mahathir Bayena

Bhutan has reduced its Bitcoin (CRYPTO:BTC) holdings by 2,584 BTC over the past 40 days, according to data from Arkham Intelligence.

On March 24, Bhutan’s Bitcoin reserves stood at 10,070 BTC.

As of late April, that amount has decreased to 7,486 BTC, valued at approximately $720 million.

This represents a divestment of roughly $248 million in digital assets.

The government’s Bitcoin was transferred to multiple unidentified addresses during this period.

Bhutan acquires its Bitcoin solely through mining operations, distinguishing it from other sovereign holders.

Prime Minister Tshering Tobgay has indicated that proceeds from Bitcoin sales have supported national healthcare initiatives and adjustments in public sector wages.

Neither Bhutanese officials nor Druk Holding and Investments (DHI), the state-owned holding company managing the Bitcoin, have publicly commented on the recent reduction.

Bhutan remains the fourth-largest sovereign Bitcoin holder globally, ahead of El Salvador, which currently holds 6,166 BTC and continues to purchase 1 BTC daily.

The United States leads with 198,012 BTC, followed by the United Kingdom with 61,245 BTC.

North Korea, through the Lazarus Group linked to state-sponsored cyber activities, holds 8,358 BTC, slightly more than Bhutan’s current holdings.

Among these nations, the United Kingdom is unique in not treating its Bitcoin reserves as part of a long-term national strategy.

According to reports, Bhutan’s Bitcoin divestment “may have served to bolster its mining facilities” while also funding public programs.

This shift highlights ongoing adjustments in how sovereign states manage their digital asset portfolios amid evolving economic priorities.

At the time of reporting, the Bitcoin (BTC) price was $94,500.63.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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