Bhutan Sells Its Bitcoin Holdings

Bhutan is gradually stepping back from its investment in Bitcoin. Over the past 18 months, the country has sold around 70% of its cryptocurrency holdings. As recently as October 2024, Bhutan owned approximately 13,000 BTC, but today that number has dropped to fewer than 4,000. The current value of these remaining reserves is estimated at around $280 million.

In 2026 alone, roughly $215.7 million worth of Bitcoin has already flowed out of government wallets. The sales are being carried out gradually, suggesting a deliberate and well-planned strategy to reduce exposure to the cryptocurrency.

Interestingly, Bhutan did not acquire its Bitcoin through purchases. Instead, the country mined it using hydropower. Surplus renewable energy was converted into digital assets, with the entire operation managed by the state-owned fund Druk Holding and Investments. This approach made Bhutan one of the few countries actively engaged in cryptocurrency mining.

At this stage, the exact reasons behind this decision remain unclear. It is uncertain whether Bhutan is selling its reserves to fund other investments or simply believes that Bitcoin may not deliver significant gains in the near future. One thing is certain, however: the country is clearly shifting its approach to cryptocurrencies and moving toward a more cautious and stable financial strategy.