The Royal Government of Bhutan has moved 643 BTC-worth over $45 million-to external wallets in just two days, signaling a strategic drawdown of its Bitcoin reserves.
Once holding more than 13,000 BTC, Bhutan now retains 4,329 BTC through Druk Holdings, its state investment arm. At current prices near $66,500 per coin, that stake exceeds $290 million, keeping Bhutan among the top government holders globally.
The U.S. remains the largest sovereign holder with over 328,000 BTC valued at $22 billion, much of it seized in a major enforcement action last October targeting the Prince Group, a Cambodian criminal syndicate linked to investment fraud and human trafficking. China claims part of that Bitcoin originated from a 2020 theft involving Chinese mining firms tied to Iran.