Is Bhutan Selling All Its Bitcoin?… Will the Government's Treasury Run Dry by October?

▲ Bhutan, Bitcoin / ChatGPT generated image ©

The Bhutanese government, once one of the world's largest holders of virtual assets, is aggressively disposing of its leading cryptocurrency, Bitcoin (BTC), drawing significant market attention. There are even predictions that if the recent selling trend continues, Bhutan's virtual asset treasury could be completely depleted by October this year. Amidst macroeconomic instability, interest is focused on whether this is a national portfolio realignment or simply profit-taking.

According to cryptocurrency media outlet Watcher.Guru on April 30 (local time), analysis of data from blockchain analytics platform Arkham revealed that the Kingdom of Bhutan government recently moved an additional 102.446 Bitcoins worth 7.89 million dollars. Bhutan has already sold 206.98 million dollars worth of Bitcoin since early 2026, and its current holdings are approximately 265 million dollars. As the media pointed out, if this selling spree continues, its entire holdings could be exhausted by around October.

In addition to selling off its holdings, Bhutan is understood to have slowed down or completely halted its Bitcoin mining operations. Indeed, no large-scale capital inflows have been observed for nearly a year. The media suggests that Bhutan may be reducing portfolio risk amidst immense bearish pressure, or simply selling to realize profits. Furthermore, the significant increase in network mining difficulty after Bitcoin's price fell below $70,000, or national economic pressures, are also raised as potential reasons for the halt in mining.

Currently, Bitcoin is facing another price correction. According to statistics from virtual asset data platform CoinGecko, Bitcoin's price has dropped by 2.1% over the past 24 hours and 2.9% over the past week. However, it has maintained a 1% increase over 14 days and a 12.1% increase over the past month.

Bitcoin, which soared to the $79,000 level earlier this week, has now retreated to the $76,000 level. The primary reason for this sharp price decline is attributed to the results of the U.S. Federal Reserve's (Fed) Federal Open Market Committee (FOMC) meeting. Analysts suggest that the Fed's decision to freeze the benchmark interest rate is increasing the burden of high interest rates, pushing investors away from risky assets.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*