Bhutan Sells $11 Million in Bitcoin in Suspicious Transfer

ChainSpy · 2026-03-23T19:49:56+00:00

On March 9, Bhutan's government moved 175 Bitcoin worth approximately $11 million, signaling potential plans for significant sales. This follows a prior sale of $7 million in Bitcoin, indicating a deliberate strategy to avoid market disruptions.

ChainSpy

2026-03-23 19:49:56

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Bhutan’s government Bitcoin account recently moved a significant amount of funds. On March 9th, this digital asset transfer occurred just 2 hours after the decision. According to tracking data from Arkham, 175 Bitcoin were moved, valued at approximately $11 million. This clearly signals a possible preparatory step for a major sale.

Bhutan Government Bitcoin Sale History

This isn’t the first time Bhutan has sold digital assets. About a month ago, the same government sold $7 million worth of Bitcoin through QCP Capital. The observed trend is a gradual sale approach, divided into batches of $5 to $10 million. This method helps Bhutan avoid severe market price impacts.

Signals from this Movement

Bhutan’s repeated sales indicate a well-planned strategy. In mid to late September last year, the country engaged in intense selling activity. The current event may signal the start of a new Bitcoin sale cycle. While Bitcoin’s current price is $71,020, Bhutan might be seeking the optimal timing for its next transaction.

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