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The royal government of Bhutan transferred more than $22 million from Bitcoin currency (BTC) from its independent regions last week, attracting the attention of the cryptocurrency community.
Arkham data revealed that one of the transactions, five days ago, was sent directly to addresses linked to market maker QCB Capital. This is in line with Bhutan’s regular Bitcoin sales since its inception Digital currency mining In 2019.
“Based on what we have seen, Bhutan is selling Bitcoin periodically in batches of about $50 million, with the highest selling time at the end of September 2025,” He also wrote Arkham.
Also, the Himalayan kingdom’s cryptocurrency portfolio fell by more than 70% from the peak of $1.4 billion to $412 million, following the decline in market value.
According to Bitcoin Treasures dataBhutan remains the seventh largest Bitcoin government.
More: Bhutan to expand Bitcoin mining in 2023
Bhutan has been mining Bitcoin since 2019 and has earned more than $765 million from Bitcoin.
“Bhutan has mined a lot of Bitcoin in the past Al-Tanseef Al-Baitcoin in 2024, and significantly reduce its activity after that,” he said The Arkham Report. “This is because the cost of mining a single bitcoin has almost doubled, making mining less efficient.”
In addition, the country appears to have mined 8,200 Bitcoin in 2023 alone, making it the most active year for mining. It mined about 1,800 BTC in 2022 and 300 BTC in 2024.
The portfolio transfer shows no signs of being resolved
Bitcoin’s move from a government wallet last week comes after… The price of Bitcoin dropped to 70,000 dollar. The largest digital currency fell by 7.36% in the last 24 hours, outpacing the decline of the digital currency market, which reached 6.39%.
Although the conversion is great, experts say Blockchain data It may be internal redistribution or management rather than liquidation. The currency of the country does not change.
Bhutan has done similar events in the past without damaging the market.
A note Bhutan transfers more than $22 million worth of Bitcoins from independent wallets and raises speculation that it could sell them. appeared for the first time Cryptonews Arabic.
