{"id":92324,"date":"2026-05-14T08:01:32","date_gmt":"2026-05-14T08:01:32","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=92324"},"modified":"2026-05-14T08:01:32","modified_gmt":"2026-05-14T08:01:32","slug":"bhutan-transfers-8-million-in-bitcoin-amid-ongoing-bitcoin-liquidation","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=92324","title":{"rendered":"Bhutan Transfers $8 Million In Bitcoin Amid Ongoing Bitcoin Liquidation"},"content":{"rendered":"
\n

Bhutan could walk away with roughly $767 million in total profit if it sells its remaining Bitcoin near current prices \u2014 a striking figure for a Himalayan nation of 750,000 people that quietly built one of the world\u2019s largest sovereign crypto reserves through hydropower mining.<\/p>\n

The Math Behind The Mining<\/h2>\n

The kingdom began mining Bitcoin<\/a> in 2019, tapping surplus electricity from its glacier-fed rivers. State-owned Druk Holding and Investments ran the operation, and at its peak in late 2024, the reserve reached nearly 13,000 BTC.<\/p>\n

The April 2024 block reward halving cut mining output significantly. The last on-chain deposit above $100,000 into Bhutan-linked wallets occurred more than 12 months ago, raising questions about whether active mining continues at all.<\/p>\n

On Tuesday, Bhutan moved<\/a> 100 BTC \u2014 worth about $8.1 million \u2014 out of its holding wallets, according to blockchain analytics firm Arkham Intelligence.<\/p>\n

The country has now offloaded roughly $230 million in Bitcoin since January, averaging about $50 million a month. Current holdings sit at approximately 3,100 BTC, valued near $252 million.<\/p>\n

\n

Bhutan is selling Bitcoin.<\/p>\n

Bhutan just moved 100 BTC ($8.1M) out of its holding wallets.<\/p>\n

At their current rate of selling, they will run out of BTC before the end of September. pic.twitter.com\/z8P7yf0kzS<\/a><\/p>\n

\u2014 Arkham (@arkham) May 12, 2026<\/a><\/p>\n<\/blockquote>\n

A Sell-Off With No Fixed Timeline<\/h2>\n

Arkham<\/a> projects Bhutan will exhaust its reserves before the end of September if sales continue at the current pace.<\/p>\n

Not everyone buys that timeline. Markus Levin, co-founder of XYO, said the projection assumes a steady rate of selling \u2014 but that is not how Bhutan has operated.<\/p>\n

Sales started with 2,077 BTC worth $163 million in late 2024, followed by a $100 million tranche in September 2025, with quieter stretches in between.<\/p>\n

<\/p>\n

Earlier this year, transfers picked up again. Reports indicate Bhutan moved over $120 million in Bitcoin during March alone, including a single transfer of 519.7 BTC valued at $36.75 million at the time. Coins are often routed through Singapore-based trading firm QCP Capital, according to reports.<\/p>\n

Analysts say the pattern reflects a deliberate treasury approach. Lacie Zhang, a research analyst at Bitget Wallet, described the activity as an active sovereign strategy aimed at monetizing gains while keeping some long-term exposure.<\/p>\n

Since the Bitcoin was mined at near-zero cost, every sale generates profit regardless of timing.<\/p>\n

Crypto Ambitions Remain Intact<\/p>\n

The sell-down has not slowed Bhutan\u2019s broader push into digital assets. Gelephu Mindfulness City<\/a>, a special administrative region in southern Bhutan, has been designated to hold Bitcoin, Ethereum, and BNB as strategic reserves.<\/p>\n

King Jigme Khesar Namgyel Wangchuck pledged up to 10,000 BTC \u2014 then worth around $1 billion \u2014 toward the city\u2019s development in December 2025.<\/p>\n

Featured image from Pexels, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bhutan could walk away with roughly $767 million in total profit if it sells its remaining Bitcoin near current prices \u2014 a striking figure for a Himalayan nation of 750,000 people that quietly built one of the world\u2019s largest sovereign crypto reserves through hydropower mining. The Math Behind The Mining The kingdom began mining Bitcoin […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-92324","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/92324","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=92324"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/92324\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=92324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=92324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=92324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}