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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
06/18/2026

Bhutan Moves $34.5M in Bitcoin to Binance, Holdings Drop Below 1,750 BTC

What happened: Bhutan’s Druk Holding & Investments transferred 533 BTC (about $34.

Bhutan Moves $34.5M in Bitcoin to Binance, Holdings Drop Below 1,750 BTC

What happened: Bhutan’s Druk Holding & Investments transferred 533 BTC (about $34.5 million) to a Binance deposit address, according to Arkham Intelligence. This move brings the sovereign wealth fund’s publicly tagged bitcoin holdings down to 1,749.96 BTC (roughly $113.7 million), a sharp decline from its peak of 13,000 BTC in October 2024. Year-to-date outflows from Bhutan-linked wallets exceed $230 million, with cumulative liquidations near $979 million.

Why it matters: The sale marks a significant reduction in Bhutan’s crypto reserves, raising questions about sovereign adoption and risk management. However, DHI CEO Ujjwal Deep Dahal has publicly disputed the narrative that Bhutan is actively selling, suggesting attribution by Arkham is not government-confirmed. The opacity of sovereign crypto strategies continues to fuel speculation and market uncertainty.

Source: The Block