Bhutan Transfers 250 Bitcoin in Ongoing Outflows

The Royal Government of Bhutan transferred approximately 250 Bitcoin, valued at around 18.5 million, to new wallet addresses over the past 24 hours, continuing a pattern of outflows from its national holdings this year.

Blockchain data from analytics firms shows the transfers included batches of 162 Bitcoin and 69.7 Bitcoin, along with smaller amounts, routed to fresh addresses. These moves align with broader activity tracked since the start of 2026, during which Bhutan has shifted a total of about 3,247 Bitcoin, equivalent to roughly 240 million at current prices. The country's reserves, once peaking at around 13,000 Bitcoin in October 2024, have now declined by more than 70 percent to approximately 3,524 Bitcoin, worth between 260 million and 264 million.

Bhutan initially accumulated its Bitcoin through mining operations powered by the nation's abundant hydroelectric resources, leveraging surplus renewable energy to generate the cryptocurrency as part of a treasury diversification strategy. This approach tied digital asset holdings to sustainable development goals, with inflows supporting reserve growth over several years. However, on-chain records indicate no significant...