EddieJayonCrypto
18 Aug 25
The Royal Government of Bhutan sold over $92 million worth of Bitcoin amid recent market downturns, transferring 799.69 BTC to new wallets likely linked to a centralized exchange for sale. Despite Bitcoin's price drop from a recent high, Bhutan remains the fifth-largest national Bitcoin holder, with...
The Royal Government of Bhutan has sold over $92 million worth of Bitcoin amid the recent market downturn, signaling a strategic reduction in its crypto holdings. On August 18, blockchain analytics platform Onchain Lens revealed that Bhutan transferred 799.69 BTC, valued at approximately $92.06 million, into two new wallets. These assets are believed to be headed toward a centralized exchange, potentially Binance, prior to the sale.
This move coincides with a period of notable volatility in the cryptocurrency market. Bitcoin reached a new all-time high of $124,167 on August 14 but has since dropped more than 7% to about $115,165. Despite these sales, Bhutan remains a significant player in the crypto landscape.
According to Bitcoin Treasuries data, Bhutan ranks as the fifth-largest national holder of Bitcoin, even ahead of El Salvador. Arkham Intelligence estimates the country still retains close to 9,969 BTC, valued near $1.15 billion, alongside approximately 656 ETH worth around $2.81 million at current market prices. This sizable portfolio highlights Bhutan's ongoing commitment to digital assets despite recent market fluctuations.