CMC News

Bhutan Transfers $11.8M in BTC as 2026 Outflows Hit $42M

The Royal Government of Bhutan moved 175 $BTC on Monday, worth approximately $11.85 million, according to on-chain data from Arkham Intelligence. The transfer brings the country's total $BTC outflows for 2026 to roughly $42.5 million. #Bitcoin

Bhutan's #digitalasset holdings are managed by Druk Holding & Investments, the country's sovereign wealth fund. The fund currently holds approximately 5,400 $BTC, valued at around $374 million at current prices.

Monday's transfer follows a $6.8 million $BTC move last month. Arkham Intelligence noted that Bhutan typically conducts its sales in recurring clips ranging from $5 million to $10 million. The pattern has remained consistent across recent months.

The latest transfers are smaller in scale than Bhutan's activity last July. Over four days that month, the government moved more than $60 million in $BTC. At that point, its holdings exceeded 11,000 $BTC, valued at approximately $1.4 billion, a sum representing more than 40% of Bhutan's gross domestic product at the time.

$BTC has dropped from approximately $119,000 last July to around $69,000 as of Monday. That decline has reduced the total dollar value of the government's remaining stack significantly. Bhutan has built its $BTC reserves primarily through #mining, using the country's hydroelectric power capacity to run what it describes as sustainable mining operations. #BTC #Bhutan

The government has not publicly disclosed how it uses proceeds from its transfers. The selling pattern contrasts with continued accumulation by other institutional holders. Strategy added 17,994 $BTC during this period and now holds 738,731 coins in total.

$BTC was trading at approximately $68,879 on Monday, up 2.64% over the prior 24 hours. The price recovered toward the $69,000 resistance level during the same session.