Bhutan Government Transfers $37 Million in Bitcoin from Reserves

Bhutan transfers 519.7 BTC worth $37 million to two addresses.

The Bhutanese authorities have transferred 519.7 BTC, valued at $37 million, to two addresses, one of which is associated with the trading firm QCP Capital.

Following this transaction, the kingdom’s balance stands at 4453 BTC. The state ranks seventh globally in terms of bitcoin reserves. The funds are managed by the state sovereign fund Druk Holding and Investments.

The purpose of the transfer remains undisclosed. Typically, moving coins to trading firms or exchange addresses suggests preparation for sale. Previously, the fund executed significant transactions: on March 17 and 18, it moved bitcoins worth $72 million, and earlier in the month — around $12 million.

Bhutan accumulated cryptocurrency through mining, leveraging hydroelectric resources. At its peak in October 2024, the country’s reserves reached 13,000 BTC.

At the time of writing, bitcoin is trading at $71,204, having gained 0.4% over the past day. The asset’s price is 43.5% below its all-time high.

Back in December 2025, Bhutan allocated 10,000 BTC for the construction of a “city of mindfulness.”