Bhutan Cuts Bitcoin Reserves by 60% – Will It Sell the Entire BTC Stockpile?
Bhutan has liquidated about $120 million in Bitcoin this year, reducing its reserves by over 60% from their peak.Summary
The Royal Government of Bhutan has aggressively sold off approximately $120 million in Bitcoin since the start of the year, accelerating a divestment strategy that has seen its digital reserves drop by over 60% from their peak. Recent transactions, tracked by Arkham Intelligence, included moving 123.7 BTC ($8.5 million) and an earlier sale of 519.7 BTC ($36.75 million), often executed through OTC desks like QCP Capital to minimize market impact. Bhutan originally accumulated up to 13,000 BTC through a state-backed mining program leveraging surplus hydroelectric power. Analysts suggest the proceeds from these sales, which have reduced holdings to about 4,300 BTC (valued near $300 million), are being directed toward major national infrastructure, particularly the Gelephu Mindfulness City project. Despite the heavy selling, Bhutan remains the world's seventh-largest sovereign holder of Bitcoin.
(Source：BeInCrypto)