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Bhutan may sell Bitcoin valued at $36.7 million, according to Arkham Intelligence., 2026/03/25 11:30:23
The government of Bhutan has transferred approximately 519.7 BTC (around $36.75 million) to two wallets, as reported by analysts from Arkham Intelligence. One of the addresses is linked to the trading firm QCP Capital, which may suggest preparations for asset liquidation.
Previously, the fund has conducted significant transactions. Last week, a transfer of about $72 million was recorded, and earlier this month, nearly $12 million was moved. The reasons for these operations have not been officially disclosed.
Following the asset transfers, Bhutan retains around 4453 BTC, which is currently valued at approximately $315.9 million. The management of crypto assets is handled by the sovereign fund Druk Holding and Investments.
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Bhutan has been accumulating bitcoins through mining, which is advantageous in the country due to low electricity costs. The highest recorded reserves were noted in October 2024, exceeding 13,000 BTC.
According to Arkham’s data, the last significant influx of funds exceeding $100,000 was observed over a year ago. Analysts speculate that the country may have reduced or halted its mining activities.
The asset transfers occur amid a market downturn: bitcoin remains more than 40% below its all-time high of approximately $124,900, reached in October 2025. As of the morning of March 25, the price is near $70,900.
Last year, Bhutanese authorities announced plans to utilize up to 10,000 BTC for the economic development of the town of Gelephu and to create high-paying jobs for the youth; however, there have been no updates on the project’s implementation to date.
