Bhutan Reduces BTC Holdings Below 4,000

Bhutan transferred approximately 319 Bitcoin (BTC), worth 22.68 million dollars, from its sovereign wallet on Thursday, continuing its sales that have been ongoing for months and further reducing its once large BTC holdings. According to Arkham data, total outflows since late October 2024 have exceeded 9,000 BTC. The country's BTC assets fell from 13,000 BTC as of April to 3,654 BTC following an additional transfer of 1,667 BTC in March. Bhutan remains the fifth largest nation-state BTC holder publicly tracked; behind the US (328,000 BTC), UK (61,000 BTC), El Salvador (7,600 BTC), and UAE (7,000 BTC). Wallet movements linked to the government and Druk Holding & Investment were labeled by Arkham Intelligence, but Bhutan has not made any official comment on the sales.

Bhutan’s BTC assets fell below 4,000 BTC. Source: Arkham

Impact of Bhutan's BTC Sales on the BTC Market

Bhutan built its BTC position through state-backed mining supported by hydroelectric power; this strategy, framed as a "green Bitcoin economy," aims to diversify export revenues beyond electricity sales. The country, using excess carbon-free hydroelectricity for BTC mining, is exploring the possibility of selling its green coins to large companies for ESG goals. In December 2025, the National Bitcoin Development Commitment of 10,000 BTC for Gelephu Mindfulness City was announced. Yesterday (April 22, 2026), BTC ETFs saw $335.8 million in net inflows, supporting market recovery.

Critical Support and Resistance Levels for BTC

• Supports: S1: $74,400 (Strong, 77% score) | S2: $77,520 (70% score)
• Resistances: R1: $79,082 (Strong, 84% score) | R2: $83,437 (63% score)
• Price: $77,960 | RSI: 65.37 (Uptrend) | EMA20: $74,107

For detailed chart, check BTC detailed analysis. For futures, BTC futures.

Frequently Asked Questions About Bhutan's BTC Sales

• Why is Bhutan selling BTC? To diversify assets from hydroelectric mining and finance the Gelephu project.
• How much BTC does Bhutan own? As of April 2026, 3,654 BTC (approximately 285 million dollars).
• Will these sales affect BTC price? Small scale; factors like ETF inflows ($335M) are more determining.