Bhutan Liquidates $37M Bitcoin, Holdings Plummet 66% in Months

Bhutan has moved $37 million worth of Bitcoin to exchanges, slashing its sovereign crypto holdings to 4,453 BTC—a 66% drop from the nearly 13,000 BTC it held in late 2024. The Himalayan kingdom, which has quietly built a substantial Bitcoin portfolio, now faces mounting questions over its crypto strategy as market volatility reshapes national asset allocations. The transfer signals a potential shift in Bhutan’s approach, possibly aimed at rebalancing reserves or capitalizing on recent price swings. With Bitcoin’s value still fluctuating sharply, the kingdom’s reduced exposure could either hedge against further downturns or limit upside if the market rebounds. Analysts note that Bhutan’s crypto holdings once ranked among the largest sovereign digital asset portfolios globally, making this reduction a notable pivot in national financial policy.

Words by Lyra Valance (Digital Assets & Web3 Insider).