•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
The Royal Government of Bhutan transferred 250 BTC, valued at approximately $18.46 million, to a newly created wallet on April 13, according to data from blockchain analytics platform Arkham. The move is part of a broader series of outflows that have cut the country’s publicly known holdings by more than 70% from their historical peak.
Arkham data shows that wallets identified as belonging to the Royal Government of Bhutan recorded outflows of approximately 3,247 BTC during 2026, representing a total value close to $240.4 million at current prices. After the April 13 transfer, the wallets retain 3,524 BTC valued at around $260.9 million, along with 30.15 ETH worth approximately $70,160.
The purpose of the latest transfer has not been confirmed. Onchain analysts have linked earlier movements to potential sales, including a prior transfer of 250 BTC to a wallet described as routing funds toward Galaxy Digital and OKX.
Bhutan’s bitcoin reserves were built through mining operations powered by its hydroelectric resources. Arkham reports that the last bitcoin inflow exceeding $100,000 into government wallets occurred more than a year ago. Holdings peaked at around 13,000 BTC in October 2024, implying a cumulative reduction of 73% from that level.
