Bhutan Transfers 973 BTC Worth $72.3 Million

The Royal Government of Bhutan transferred approximately 72.3 million worth of Bitcoin, equivalent to 973 BTC, from its state-managed wallets over a 24-hour period ending March 18, 2026, according to blockchain analytics firm Arkham Intelligence. The transactions, originating from addresses linked to Druk Holding and Investments, Bhutan's sovereign investment arm, involved multiple transfers to unidentified wallets and one notable deposit to Singapore-based trading firm QCP Capital.

These movements continue a pattern of periodic asset management by the South Asian kingdom, which has been actively handling its cryptocurrency reserves amid fluctuating market conditions. On March 17, Bhutan sent 596 BTC valued at 44.44 million to two new addresses, following an earlier 27.8 million transfer the previous day. A smaller portion, 20.5 BTC worth about 1.52 million, went directly to QCP Capital, indicating possible over-the-counter sales or structured liquidity operations rather than simple internal shifts. Arkham Intelligence data shows no immediate market disruption from the activity, with Bitcoin trading steadily around 74,000 during the transfers.