Bhutan moves nearly $12 million in bitcoin as 2026 outflows pile up

Markets•March 9, 2026, 1:43PM EDT
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Bhutan moves nearly $12 million in bitcoin as 2026 outflows pile up
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Quick Take

  • Bhutan moved 175 BTC worth $11.85 million on Monday, its first transfer since moving $6.8 million last month.
  • The government has moved $42.5 million so far this year, according to Arkham Intelligence.

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The Royal Government of Bhutan’s bitcoin transfers for the year surpassed $40 million on Monday after the country moved 175 BTC, according to Arkham data.

The latest transfer, worth about $11.85 million, follows a $6.8 million BTC move last month. Bhutan has now shifted roughly $42.5 million worth of bitcoin so far in 2026, according to Arkham Intelligence.

The Bhutan government currently holds about 5,400 BTC, valued at roughly $374 million. The assets are managed by Druk Holding & Investments, the country’s sovereign wealth fund.

"Bhutan periodically sells portions of its Bitcoin in clips of $5 million to $10 million," Arkham said.

The recent moves are comparatively much smaller than when Bhutan moved over $60 million in bitcoin last July over the course of four days. After those transfers, Bhutan held over 11,000 BTC, valued at $1.4 billion, worth more than 40% of Bhutan's gross domestic product. 

Since those July moves, Bitcoin's price has fallen significantly from about $119,000 to trade at around $69,000 on Monday, according to The Block Price Page.

Bhutan has primarily built up its bitcoin reserves by mining the cryptocurrency, utilizing its ample hydroelectric power to fuel sustainable mining operations.


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