Bhutan’s Sovereign Investor Moves Over 1,000 BTC, Sends 375 BTC to Address Tied to Institutional Counterparties
On-chain records show the Kingdom of Bhutan moved more than 1,000 BTC over several days, with the latest transaction sending nearly 375 BTC (about $25 million) to an unlabeled address early Tuesday [1] [2] [3].
Onchain analytics firms flagged large outflows from wallets attributed to Bhutan’s sovereign investment arm, Druk Holding & Investments, raising questions about the government’s crypto holdings and sovereign strategy [4] [1].
The 374.9 BTC transfer was sent to an address beginning with “bc1q0” that analysts report has previously routed BTC acquired from Bhutan to institutional counterparties such as Galaxy Digital, according to Arkham-based analysis cited in reporting [3] [1].
These reports are based on on-chain analytics and address-attribution data compiled by firms and cited in media coverage [1] [4] [3].
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Citations
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- 1Bhutan Dumps Over 1,000 BTC in Days—Is a Massive Sell-Off Underway?36Crypto• Mar 31, 2026
- 2Bhutan Transfers 375 BTC in Latest Sovereign Bitcoin DrawdownBitcoin.com News• Mar 31, 2026
- 4Bhutan’s BTC transfers deepen questions over sovereign crypto strategycrypto.news• Mar 31, 2026
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