Bhutan Sells 319 BTC Again, Ownership Drops from 13,000 to 3,954 BTC

The Kingdom of Bhutan government has again moved large amounts of Bitcoin assets.
In the latest transaction, Bhutan reportedly transferred about 319.7 BTC worth $22.68 million in just the last hour.
This step continues the selling trend that has been ongoing since October 28, 2024. During that period, Bhutan’s Bitcoin holdings dropped sharply from around 13,000 BTC to 3,954 BTC.
That means more than 9,000 BTC has been released into the market, with the total value reaching approximately $640 million.
Bhutan was previously known as one of the countries with significant Bitcoin holdings, most of which were obtained through mining activities that utilize hydro energy.
This decline in reserves indicates a liquidation or asset management strategy carried out by the government, although details of the sales purpose have not been officially disclosed.
This movement is also drawing attention from market participants, considering that large transactions from a state entity can impact liquidity and sentiment in the crypto market.
With remaining holdings still quite substantial, Bhutan’s activity in the Bitcoin market remains one of the factors monitored by global investors.
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