TheBlock
The Royal Government of Bhutan transferred another 100.44 BTC — roughly $8.2 million — on Tuesday, according to onchain analytics platform Arkham. The move is part of a sustained liquidation pattern: Bhutan has sold approximately $50 million in BTC per month so far in 2026, pushing total year-to-date outflows past $230 million.
Despite the pace of selling, Bhutan is far from empty — the sovereign wallet still holds an estimated $252 million worth of bitcoin. That remaining stack means the monthly sell pressure could continue for several more quarters at the current rate, making Bhutan's treasury movements a persistent bearish overhang worth tracking for market participants watching sovereign BTC flows.
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