Bhutan Sells Large Batch of Bitcoin Amid Market Volatility

Bhutan's sovereign wealth fund manager, Druk Holding & Investments, has been actively selling bitcoin in recent weeks. According to data from Arkham Intelligence, the company transferred 973 BTC worth $72.3 million in just 24 hours.

This sale is part of a larger trend, with over $110 million worth of bitcoin moved out of the country's government wallets since the start of 2026. This has raised suspicions that Bhutan may have paused its cryptocurrency mining operations amid market corrections and rising production costs.

In June 2025, Bhutan ranked among the top three holders of bitcoin globally, with its bitcoins obtained through mining rather than confiscation or donation. However, experts note that the last inflow of more than $100,000 in bitcoin to Druk Holding & Investments accounts was recorded back in February 2025.

Despite the price drop, Druk Holding & Investments' portfolio is still sitting on $740 million in unrealized profit. The company's holdings also include Ethereum and other crypto assets, with a total of 4,453 BTC remaining under its control.