As the largest cryptocurrency heads into uncharted territory, the South Asian Monarchy seems to be preparing to capitalize on the gains made over the past several days. Or, as they say in the mountains, “When the digital sheep are fat, it’s time to shear them.”
The country has experienced stable economic growth over the years and has also become one of the few nations to include digital assets in its government holdings. It’s like they’ve got a digital piggy bank, but instead of coins, it’s stuffed with bits and bytes.
A Series of Transfers
The recent outflows were identified by the on-chain analysis firm, Arkham, with the total amount exceeding $170 million and spanning over four days. Imagine that, a digital treasure hunt, but instead of a map, they’ve got a blockchain.
The Royal Government began by transferring some of its holdings to Binance on Thursday, with a transaction valued at $37,800. Earlier today, though, the authorities sent another $113.9 million worth of BTC. That’s more than a few pocket change, even for a kingdom.
This still leaves over 11K BTC left in the wallet held by Druk Holdings, the commercial and investment arm of the Government of Bhutan, worth over $1.280 billion as per the most recent prices. It’s like having a vault full of digital gold, but with less of the heavy lifting.
Even if they sell the bitcoins they moved, the country will still be ranked 5th in the world for holdings, positioned between Ukraine’s stash of over 46,000 BTC and above El Salvador’s over 6,000, as per data from BitBo. It’s a bit like being the middle child in the crypto family, but with a better inheritance.
This is not the first time the landlocked country has employed this strategy, as during last year’s rally, it moved roughly $60 million worth of BTC when the price was around $70,000 per unit. It’s like they’ve got a knack for timing the market, or as they might say, “The early bird catches the digital worm.”
The Country’s Treasury Growth
The kingdom has quietly been accumulating the leading asset for some time now, possibly even earlier than 2017, as previously reported. It’s like they’ve been quietly building a digital fortress, one block at a time.
According to government sources, they began mining the asset when the price was roughly $5,000 by utilizing their vast, natural hydroelectric resources. It’s like turning water into digital wine, but with a lot less fermentation.
The country also holds approximately $2 million worth of ETH in today’s prices and plans to include other assets in its treasury. It’s a diversified portfolio, but with a touch of Bhutanese flair.
CryptoPotato previously covered how the country created a Special Administration Region – Gelephu Mindfulness City (GMC), with plans for a strategic reserve of BTC, Ethereum (ETH), and Binance Coin (BNB).
“The purpose of establishing this SAR is to create a vibrant economic hub by providing a conducive business environment and compelling incentives. It will be a Mindfulness City, encompassing conscious and sustainable businesses, inspired by Buddhist spiritual heritage, and distinguished by the uniqueness of the Bhutanese identity”, part of the King’s royal address to the nation in 2023.
The aim is to establish a clean technology innovation hub by attracting global investment to stimulate economic growth. It’s like they’re building a digital Shangri-La, but with better Wi-Fi and a bit more blockchain magic.
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2025-07-14 23:37