🔗 Crypto & Blockchain

Bhutan's Bitcoin Reserves Crater 70% After $23M Transfer—What's Driving the Sell-Off?

Deep in the Himalayas, Bhutan's Royal Government just wired $23 million in Bitcoin to unknown wallets. Onchain sleuths reveal a 70% plunge in reserves—hinting at a quiet exit from their mining empire.

theAIcatchup Apr 09, 2026 3 min read
Blockchain visualization of Bhutan government Bitcoin transfer to exchange wallets amid Himalayan peaks

⚡ Key Takeaways

  • Bhutan transferred 319.7 BTC ($23M) to wallets linked to OKX and Galaxy Digital, slashing reserves 70%. 𝕏
  • Hydro-powered mining built the stash; market woes and tensions may be forcing sales. 𝕏
  • Unique insight: Echoes 1990s gold dumps, but BTC's renewability could spark a mining rebound. 𝕏
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theAIcatchup

Markets. Money. Innovation.

#BTC reserves decline #Bhutan Bitcoin #crypto mining #nation-state crypto

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Originally reported by Crowdfund Insider

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