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Bhutan moved 490.87 BTC worth $32.74M to new wallets amid ongoing state Bitcoin transfers in 2026

Market News
21 Aug 2026
Crypto news
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Neutral
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The Royal Government of Bhutan transferred 490.87 Bitcoin, valued at about $32.74 million, to new wallets within 24 hours, continuing a pattern of large Bitcoin movements from state-linked addresses throughout 2026. Most of the transfer was a single transaction of 485 BTC worth $32.31 million. These transfers have involved unidentified wallets, trading firms, and exchanges, but it is unclear if the Bitcoin was sold or simply reorganized. Bhutan's Bitcoin holdings, accumulated mainly through hydroelectric-powered mining, have decreased from a peak of over 13,000 BTC in 2024 to around 4,453 BTC by March 2026. The government is also integrating Bitcoin into broader development plans, including the Gelephu Mindfulness City project, which involves professional Bitcoin management and regulatory frameworks for crypto businesses.

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