Bhutan Quietly Sells Over $22M in Bitcoin, Triggers Speculation Over Possible Sell-Offs
The Royal Government of Bhutan has moved over $22 million in BTC out of sovereign wallets over the previous week alone, drawing consideration from the crypto neighborhood.
One transaction, 5 days in the past, was instantly despatched to addresses linked to market maker QCP Capital, Arkham knowledge revealed. The strikes align with Bhutan’s periodic gross sales of BTC because it began mining the crypto in 2019.
“From our observations, Bhutan periodically sells BTC in clips of round $50M, with a very heavy interval of promoting round mid-late September 2025,” Arkham wrote.
Besides, the Himalayan Kingdom’s crypto portfolio has gone down greater than 70% from its $1.4 billion peak to $412 million, following market depreciation.
Per Bitcoin Treasuries, Bhutan stays the seventh-largest authorities Bitcoin holder.
Bhutan Heavily Mined BTC in 2023 – Data
Bhutan has been mining Bitcoin since 2019 and noticed greater than $765 million in BTC revenue.
“They mined most of their BTC earlier than the halving in 2024, and tapered closely after that,” stated the Arkham report. “This is as a result of the fee to mine a single Bitcoin roughly doubled, which made mining much less environment friendly.”
Further, the nation appears to have mined 8,200 BTC in 2023 alone, making it the heaviest mining yr. It roughly mined 1800 BTC in 2022 and 300 BTC in 2024.
Wallet Transfers Show No Sign of Liquidation
The BTC transfers from the federal government pockets in the previous week come after Bitcoin has been slumping to $70,000. The largest crypto has tumbled 7.36% over the past 24 hours, outpacing the broader crypto market’s 6.39% fall.
Despite the heavy transfers, blockchain knowledge analysts observe that they’re extra prone to be inside reallocation or custodial preparations relatively than liquidation. The nation’s pockets balances stay largely unchanged.
Bhutan has made comparable mass pockets strikes in the previous with out triggering market crashes.
The publish Bhutan Quietly Sells Over $22M in Bitcoin, Triggers Speculation Over Possible Sell-Offs appeared first on Cryptonews.
