Bhutan sells 10,451 Bitcoin for nearly $1 billion

The Royal Government of Bhutan has been steadily selling large amounts of Bitcoin for a year now. Data from on-chain analyst EmberCN shows that since June 2025, the country has offloaded a total of over 10,451 BTC, worth approximately $979 million. The average selling price is thus $93.738 per Bitcoin.

Bitcoin is available at OKX and Bybit.

Bhutan again sends tens of millions to Binance

Yesterday, wallets linked to Druk Holdings, Bhutan’s state investment vehicle, transferred a total of 533.2 BTC to a Binance deposit address. That transaction represents a value of approximately $34.52 million. The image shows several individual transactions, with the largest transfer being 227.19 BTC worth around $14.71 million.

This is not the first time Bhutan has sent large amounts of Bitcoin to exchanges. Earlier this week, analysts already noted that selling pressure from large holders is increasing, putting additional strain on the market. Bhutan’s sales fit into that broader pattern of institutional players taking profits.

Bhutan still holds around 1,750 Bitcoin

After all these sales, the Bhutanese government still holds about 1,750 BTC. At the current Bitcoin price, that remaining position is worth approximately $113 million. For comparison, the Bitcoin price currently stands at $62.500. a drop of 5.3% in the past 24 hours.

Bhutan built its Bitcoin reserves through state mining, using cheap hydroelectric power to mine crypto. The question now is whether the country will hold its remaining position or gradually reduce it as well. Market watchers are closely monitoring Druk Holdings’ wallets, as large sellers face off against large buyers in the market.