As Bitcoin Tops $123K, Bhutan Quietly Sells $59M But Keeps $1.4B Reserve Intact

Bhutan Cashes Out $59M in Bitcoin as Price Hits $123K, Still Holds Over $1.4B

Bhutan is taking advantage of bitcoin’s latest surge, quietly selling part of its holdings while keeping a substantial reserve.

Blockchain analytics firm Lookonchain reports that the Royal Government of Bhutan offloaded 512.84 BTC in the past four days, collecting around $59.47 million as bitcoin rallied past $123,000. Despite these sales, Bhutan still holds an impressive 11,411 BTC, currently valued at more than $1.4 billion.

“The Royal Government of #Bhutan has been accelerating its $BTC sales! In the past 4 days alone, #Bhutan sold 512.84 $BTC ($59.47M)—selling every day. They still hold 11,411 $BTC ($1.4B).”
— Lookonchain (@lookonchain), July 14, 2025

Unlike Germany, which has been liquidating BTC seized from criminal investigations, Bhutan’s bitcoin comes from its state-run mining operations. The country leverages its abundant hydropower resources to mine bitcoin sustainably and often sells portions during strong price rallies to lock in profits.

These efforts are managed under Druk Holding & Investments (DHI), Bhutan’s sovereign wealth fund, which is spearheading various crypto-driven projects. Among its ambitious plans is the development of Gelephu Mindfulness City, a blockchain-focused urban center, developed in partnership with firms like Bitdeer.

Bhutan’s strategic engagement with bitcoin not only fuels its national treasury but also reinforces its position as a unique player in the global crypto landscape.