BlockBeats News, March 26 — According to Decrypt, the Kingdom of Bhutan transferred 519.707 Bitcoin (approximately $36.75 million) to external addresses again on Wednesday, continuing its trend of Bitcoin reduction since 2026. On-chain data shows that the Bhutanese royal government currently holds 4,453 Bitcoin, with a market value of about $315 million, down 66% from the peak of nearly 13,000 Bitcoin at the end of 2024. The total outflow since the beginning of the year has exceeded $150 million.
Bhutan’s selling scale is accelerating, with transfers in January and February ranging from $5 million to $15 million each time, and in March increasing to $35 million to $45 million per transfer. The Wednesday transfers match the deposit pattern of trading platforms, but the specific destination has not yet been confirmed.
Unlike most countries that accumulate Bitcoin through purchases, Bhutan’s holdings come from its mining operations supported by abundant hydropower resources. In December 2025, Bhutan pledged to use up to 10,000 Bitcoin for the development of the Gelephu Mindfulness City project in the southern economic zone. This sovereign sale is one of the largest government Bitcoin reductions on record, exerting ongoing selling pressure on the market.
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