The Royal Government of Bhutan transferred 250 BTC valued at approximately $18.46 million to a newly created wallet on April 13, according to data from blockchain analytics platform Arkham. The operation is part of a series of outflows that have reduced the country’s publicly known holdings by more than 70% since their historical peak.
Wallets identified by Arkham as belonging to the Royal Government of Bhutan recorded outflows of approximately 3,247 BTC during 2026, with a total value close to $240.4 million at current prices. Following the transfer, the wallets retain 3,524 BTC valued at around $260.9 million, along with 30.15 ETH worth approximately $70,160.
The purpose of the latest transfer has not been confirmed. Onchain analysts linked previous movements to possible sales, including a transfer of 250 BTC to a wallet used to route funds toward Galaxy Digital and OKX.
Bhutan’s bitcoin reserves were built through mining operations powered by its hydroelectric resources. According to Arkham, the last bitcoin inflow exceeding $100,000 into government wallets occurred more than a year ago. Holdings peaked at around 13,000 BTC in October 2024, making the cumulative reduction 73% from that high.
Source: https://intel.arkm.com/explorer/entity/druk-holding-investments
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