Bhutan's Bitcoin Holdings Decline Significantly Over 18 Months
The kingdom's holdings have dropped from 13,000 BTC to 3,954 since October 2024, with $215.7 million moved out this year alone. Its last mining inflow over $100,000 was recorded more than a year ago.
Bhutan, known for its unique approach to embracing cryptocurrencies, has made headlines again as it has sold a significant portion of its bitcoin reserves over the past 18 months. The kingdom's bitcoin holdings have plummeted from 13,000 BTC to just 3,954 since October 2024, raising questions about its stance on digital assets.
Reports indicate that Bhutan has moved around $215.7 million out of bitcoin this year alone, indicating a major reshuffling of its crypto portfolio. Additionally, the last mining inflow of over $100,000 was logged more than a year ago, suggesting a potential halt in BTC mining activities within the country.
Observers are closely monitoring Bhutan's crypto strategies, as the kingdom navigates the evolving landscape of digital currencies amidst global regulatory shifts.