The sovereign fund offloaded 100 BTC, extending a months-long sell-off that has reduced holdings by 70% since late 2024.
Bhutan transferred 100 BTC, valued at $8.1 million, from its holding wallets on Tuesday, continuing a steady sell-off of its Bitcoin reserves. The move aligns with a broader treasury strategy rather than market sentiment, analysts noted.
The country has sold approximately $230.39 million in Bitcoin since January, reducing its holdings from nearly 13,000 BTC in late 2024 to around 3,100 BTC currently. At the current pace, reserves may be depleted by September.
Bhutan’s remaining Bitcoin holdings are now worth about $252 million, down from a peak in late 2024. The sovereign fund has been liquidating roughly $50 million monthly, according to onchain data.