Bhutan moves another $8.2M in Bitcoin as state reserves keep falling
The post Bhutan moves another $8.2M in Bitcoin as state reserves keep falling appeared on BitcoinEthereumNews.com. Bhutan’s government has moved another 100.44 BTC worth roughly $8.2 million, extending a months-long pattern of treasury outflows tied to wallets tracked by blockchain analytics firms. Summary Bhutan moved 100.44 BTC worth about $8.2 million to an unlabeled wallet as state-linked outflows continued into May. Arkham estimated that Bhutan-connected wallets have transferred more than $230 million in bitcoin since the start of 2026. Bhutan still holds about 3,119 BTC, although its reserve has fallen sharply from more than 13,000 BTC recorded in 2024. According to on-chain data published Tuesday by Arkham Intelligence, the Royal Government of Bhutan transferred the bitcoin at 5:27 a.m. UTC through three separate transactions to an unlabeled wallet beginning with “bc1qn.” Arkham, which started monitoring Bhutan’s holdings in 2024, said the movement appeared consistent with prior