Bhutan's Bitcoin Reserves Plunge Amid Global Buying Trend

Bhutan, a small kingdom in South Asia, has seen its Bitcoin reserves plummet by 70% over the past 18 months. According to recent transactions, the country has transferred 319.7 Bitcoins, valued at around $22.7 million.

This significant drop in state holdings is particularly striking given that Bhutan was once a trailblazer in government-backed crypto mining. The country's digital reserves have now shrunk below even the weekly accumulation of some U.S. corporate buyers.

As global institutions continue to increase their Bitcoin holdings, Bhutan's decision to sell its assets raises questions about the country's digital asset strategy and the fate of its mining operations. With no major inflows reported since early 2023, observers are uncertain about the current scale of state-sponsored mining in Bhutan.