Bhutan quietly moves $42M in Bitcoin, keeps $374M reserve

Bhutan discreetly moved over $42M in Bitcoin in 2026, selling small portions while retaining a $374M reserve. Recent transfers include 175 BTC worth $11.85M, reflecting a controlled sales strategy.

Bhutan has quietly transferred over $42 million in Bitcoin during 2026, maintaining a substantial national crypto reserve valued at nearly $374 million. The government avoids large-scale liquidations, preferring to sell small portions of its holdings, which keeps most of its Bitcoin treasury intact. Recent blockchain data reveals a transfer of 175 BTC, worth approximately $11.85 million, on March 9, 2026. This transaction is part of a series of smaller payments made throughout the year. In the previous month, Bhutan moved around $6.8–7 million in Bitcoin. By this stage in 2026, Bhutan has shifted about $42.5 million in Bitcoin, yet still holds an estimated 5,400–5,600 BTC in government wallets, valued at roughly $371–381 million. These assets are managed by Druk Holding & Investments. Bhutan’s strategy of selling Bitcoin in small increments, typically between $5 million and $10 million, is supported by its own mining operations. Proceeds are used to fund national priorities, minimizing the impact on the broader crypto market.