{"id":70183,"date":"2026-03-25T12:30:34","date_gmt":"2026-03-25T12:30:34","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bhutan-trims-bitcoin-treasury-to-4452-btc-after-latest-36m-transfer-crypto-news-bitcoin-news\/"},"modified":"2026-03-25T12:30:34","modified_gmt":"2026-03-25T12:30:34","slug":"bhutan-trims-bitcoin-treasury-to-4452-btc-after-latest-36m-transfer-crypto-news-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bhutan-trims-bitcoin-treasury-to-4452-btc-after-latest-36m-transfer-crypto-news-bitcoin-news\/","title":{"rendered":"Bhutan Trims Bitcoin Treasury to 4,452 BTC After Latest $36M Transfer \u2013 Crypto News Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Bhutan Sovereign Bitcoin<\/span> Wallet Moves $36.75 Million to QCP Capital<\/h2>\n

Onchain analytics account @Onchainlens flagged<\/a> the transaction first, with Arkham Intelligence labeling<\/a> the source wallet address 3QkQz739oPCen7HfNQzaNyV6DwDx4JB7iS as a known Bhutan<\/a> government-controlled address. The funds were split across two new wallets in a single transaction, one of which carries a QCP Capital association consistent with prior moves.<\/p>\n

Druk Holding and Investments (DHI), the royal government\u2019s strategic development arm, oversees Bhutan\u2019s bitcoin mining<\/a> operations and the resulting treasury. The country began accumulating BTC<\/span> around 2019\u20132020, using cheap hydropower to mine at a scale few anticipated from a landlocked Himalayan nation of roughly 800,000 people.<\/p>\n

X account Onchain Lens flagging Bhutan\u2019s transfer.<\/figcaption><\/figure>\n

At peak, Bhutan held an estimated 13,000 BTC<\/span> \u2014 worth over $1.4 billion and equivalent to roughly 40% of the country\u2019s GDP. That number has declined sharply. After a 973 BTC<\/span> tranche moved last week<\/a> (valued at approximately $72.3 million, partly routed through Binance-linked addresses), this week\u2019s sale pushes Bhutan\u2019s estimated year-to-date liquidations above $110 million.<\/p>\n

Current holdings are estimated to be around 4,452.799 BTC<\/span>, or roughly $319 million at current bitcoin<\/span> prices. No meaningful inflows above $100,000 have been recorded in over a year.<\/p>\n

The pattern points to reduced mining output following the April 2024 Bitcoin halving<\/a>, which cut block rewards in half and compressed margins across the industry. Bhutan\u2019s hydropower resources remain extensive, but competing domestic energy demands and higher operational costs have changed the economics.<\/p>\n

DHI has not issued a public statement about the transfers. That silence is consistent with how the kingdom has handled its entire bitcoin<\/span> program \u2014 quietly, methodically, and without fanfare.<\/p>\n

Execution through QCP Capital<\/a>\u2018s OTC desk<\/span> is deliberate. Moving large BTC<\/span> blocks off-exchange avoids direct order book impact and keeps price slippage low. Analysts tracking the wallet activity describe the sales as routine treasury management, not distressed liquidation<\/span>.<\/p>\n

Bitcoin<\/a> was trading above $70,000 at the time of the latest transfer. The move did not trigger visible price volatility<\/span> \u2014 a function of both the OTC routing and the clip size, which sits well within the range institutional desks handle daily.<\/p>\n

Bhutan\u2019s approach to bitcoin<\/span> has drawn attention from sovereign wealth managers and nation-state observers. El Salvador<\/a> made headlines for its public accumulation strategy. Bhutan took the opposite route: mine quietly, hold quietly, sell quietly.<\/p>\n

What\u2019s left of that treasury is still worth hundreds of millions. At the current drawdown pace, analysts watching onchain flows expect continued monthly sales in the $5\u2013$30 million range through the remainder of 2026.<\/p>\n

FAQ \ud83c\udde7\ud83c\uddf9<\/h2>\n