Bhutan Sells $8.1M in Bitcoin as Sovereign Sell-Off Continues
Bhutan has sold $8.1 million worth of Bitcoin as part of its ongoing sovereign sell-off, having offloaded about $230.39 million since the start of 2026. The country now holds approximately 3,100 BTC valued at $252 million, down sharply from nearly 13,000 BTC in late 2024. These sales, funded by state-backed mining using surplus hydropower, reflect Bhutan's strategy to monetize its Bitcoin reserves for government expenses.
TLDR Bhutan transferred 100 BTC worth $8.1 million as part of its ongoing Bitcoin sales. The country has sold about $230.39 million in Bitcoin since the start of the year. Bhutan now holds roughly 3,100 BTC valued at around $252 million. Arkham Intelligence said Bhutan continues to offload nearly $50 million in Bitcoin each month. Officials built the Bitcoin reserve through state-backed mining powered by surplus hydropower. Bhutan has transferred 100 BTC worth $8.1 million as part of its ongoing Bitcoin sales. The move extends a broader disposal trend that has continued into 2026. Blockchain data shows the country has reduced its holdings sharply over the past year. Bhutan Reduces Bitcoin Holdings Through Active Treasury Sales Bhutan has sold about $230.39 million in Bitcoin since January, according to Arkham Intelligence. The firm said the country continues to offload nearly $50 million each month. Arkham posted on X, “At their current rate of selling, they will run out of BTC before the end of September.” Bhutan is selling Bitcoin. Bhutan just moved 100 BTC ($8.1M) out of its holding wallets. At their current rate of selling, they will run out of BTC before the end of September. pic.twitter.com/z8P7yf0kzS — Arkham (@arkham) May 12, 2026 However, Markus Levin, co-founder of XYO, challenged that projection. He said Arkham’s timeline assumes steady sales, yet transfers have occurred in bursts. On-chain data shows Bhutan now holds around $252 million in Bitcoin. The balance equals roughly 3,100 BTC, down from nearly 13,000 BTC in late 2024. Earlier disposals included 2,077 BTC worth $163 million in late 2024. The country later executed a $100 million Bitcoin tranche in September 2025. Those sales followed quieter intervals during which no major transfers appeared. Levin said Bhutan mined most of its Bitcoin at “near-zero cost.” He added, “Whatever they sell, it’s a profit.” He also said sovereign governments must fund schools and salaries. He stated that Bitcoin ho...
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