What to know:
- Bhutan’s Royal Government moved 250 BTC (≈$18.46M) to a newly created wallet, according to Arkham Intelligence data.
- The transfer adds to a broader pattern of large movements, with Bhutan’s Bitcoin reserves down over 70% since the October 2024 peak.
- In 2026 alone, around 3,247 BTC (≈$240.4M) have been transferred, with past activity linked to wallets associated with Galaxy Digital and OKX.
Bhutan’s Royal Government has transferred 250 BTC, which is valued at around $18.46 million, into a new wallet created on the blockchain network, as seen on data from Arkham Intelligence, as per reports on Wednesday. The movement is part of a rising trend of large BTC transactions connected to the nation’s total holdings.
Source: Arkham Intelligence
This most recent transfer represents one of several transfers that have led to a significant decrease in the public Bitcoin stock of Bhutan. Following its highest point, reached back in October 2024, the nation’s Bitcoin stock has experienced a loss of over 70%.
Source: X
Although the specific cause of the latest movement has not yet been clarified, previous transfers have prompted speculations in the market. The previous transfers, including the latest one of 250 BTC, were associated with addresses that had connections with other platforms, including Galaxy Digital and OKX.
Based on the information provided by Arkham’s wallet, the Royal Government of Bhutan has transferred approximately 3,247 BTC in the year 2026. The total worth of this transaction can be estimated at around $240.4 million based on current exchange rates.
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Bhutan BTC Holdings Fall Sharply
Following the most recent move, the wallets associated with Bhutan still have around 3,524 BTC, worth roughly $260.9 million. This represents a considerable decrease from the number of Bitcoin that Bhutan is estimated to have owned in October 2024, which is approximately 13,000 BTC. Besides having a BTC balance, the wallets also hold 30.15 ETH, equivalent to $70,160.
Bitcoin mining in Bhutan relies on hydropower. The country’s abundant hydro power has been sustaining mining operations for a long time. However, blockchain records reveal no government-owned wallets depositing more than $100,000 for well over a year.
At the time of writing, Bitcoin is trading at $74,182. The BTC has seen a 24-hour trading volume of $58.74 billion and holds a market capitalization of about $1.48 trillion. Over the last 24 hours, Bitcoin has dropped around 1.27%, according to CoinMarketCap.
Source: CoinMarketCap
Although subject to some short-term volatility, it continues to trade above levels seen in early February, close to $60,000, although it continues to trade significantly below an all-time peak of approximately $126,000 seen in October 2025.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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