Kingdom of Bhutan Potentially Sells Off ¥3.5 Billion Worth of Bitcoin

Over the past week, the Kingdom of Bhutan has transferred Bitcoin (BTC) worth $22.4 million (approximately ¥3.5 billion) from its cryptocurrency wallets, indicating a possible ongoing sale, as reported by blockchain analytics firm Arkam on the 5th. Historically, Bhutan has been selling tens of millions of dollars worth of Bitcoin periodically. Notably, a significant amount of sales occurred from mid to late September 2025, during a period of rising Bitcoin prices, suggesting sales were strategically timed to capitalize on market highs. Unlike previous instances, this recent activity occurred during a market downturn, according to Arkam, with the transactions executed five days ago...