Bhutan has sold $6.7 million worth of Bitcoin, according to blockchain intelligence firm Arkham, continuing a sustained liquidation pattern over the past three weeks. The Southeast Asian nation transferred $44.44 million in BTC across multiple addresses, with $72.3 million in Bitcoin moved within the past 24 hours alone.
The selling activity marks a significant shift for Bhutan, which has not received new Bitcoin inflows to its mining wallets for more than a year, suggesting the country may have ceased its cryptocurrency mining operations. Arkham's analysis indicates these movements represent deliberate asset liquidation rather than routine wallet management.
Bhutan's exit from Bitcoin holdings reflects broader institutional reassessment of cryptocurrency exposure in 2025. The nation had previously accumulated substantial BTC reserves through mining operations, making its current divestment noteworthy for market participants tracking large holder behavior and potential supply pressure on Bitcoin markets.