Bhutan Transfers Nearly $12M in BTC as Total Transfers Near $42M This Year
The Royal Government of Bhutan transferred 175 BTC, worth approximately $11.85 million, on March 9 as part of its ongoing management of state-backed crypto reserves. This follows a previous transfer of around 100 BTC to QCP Capital about a month earlier. So far this year, Bhutan has moved a total of 395.498 BTC, valued at roughly $41.56 million. According to Arkham Intelligence, the government periodically sells portions of its Bitcoin in clips of $5–10 million. Despite these sales, Bhutan remains a significant national holder of Bitcoin, with 5,425 BTC worth about $379.53 million, plus a small amount of Ethereum. The total tracked crypto portfolio stands at approximately $379.59 million.
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