Bhutan Transfers $22M in Bitcoin Amid Market Downturn

The Kingdom of Bhutan has executed a significant transfer of Bitcoin (BTC) valued at approximately $22 million, according to recent analysis of blockchain data. This large-scale transaction occurred during a period marked by substantial volatility and generalized decline across global cryptocurrency markets. The transfer emphasizes the strategic, yet often highly confidential, digital asset investment portfolio managed by the Himalayan nation.

Sources suggest the funds are managed by Druk Holding and Investments (DHI), Bhutan’s state-owned investment vehicle. DHI has previously confirmed its extensive involvement in both the mining and accumulation of cryptocurrencies, a strategy that came to public light following disclosures related to the insolvency proceedings of major crypto lenders, including BlockFi and Celsius.

The timing of the $22 million transfer, executed during a bear market cycle, suggests a calculated strategic move. Analysts speculate the liquidation was intended either to secure necessary liquidity for operational expenses—particularly those related to maintaining energy-intensive mining infrastructure—or to actively rebalance DHI’s digital asset holdings to reduce immediate exposure to further downside risks.

Bhutan’s decision to move significant crypto volumes amid lower prices highlights the nation’s proactive management of its sovereign digital wealth, positioning it as one of the few national entities actively utilizing cryptocurrency holdings as integrated financial instruments rather than purely long-term speculative assets.

Source: Bhutan Transfers $22M in Bitcoin Amid Market Downturn