Bhutan moves over $72 million in bitcoin amid growing outflows: Arkham
Bhutan transferred approximately $72.32 million in 973 bitcoin from its sovereign wealth fund, Druk Holding & Investments.Summary
The Royal Government of Bhutan recently moved 973 bitcoin, valued at about $72.32 million, across several addresses on Tuesday and Wednesday, according to Arkham Intelligence data. These transfers originated from addresses linked to Druk Holding & Investments, Bhutan’s sovereign wealth fund managing the country's crypto assets. One portion, worth $1.52 million, went to the OTC platform QCP Capital. Combined with previous movements, Bhutan has moved over $110 million in bitcoin this year. Druk Holding currently holds 4,453 BTC, significantly down from its peak of over 13,000 BTC in October 2024. The lack of recent inflows suggests Bhutan may have ceased its bitcoin mining operations, which previously utilized the nation's hydroelectric power.
(Source：The Block)