Bhutan Shakes Crypto Markets: Moves 800 Bitcoin ($92M) Amid BTC Price Drop

Bhutan just made a power play in the crypto space—shifting a staggering 800 Bitcoin as prices wobble. Here's why it matters.

The Himalayan HODLer Awakens

The Kingdom of Bhutan—better known for Gross National Happiness than high-frequency trading—just executed a nine-figure Bitcoin maneuver. While 'diamond hands' retail investors panic-sell, sovereign players are making moves.

Timing the Dip or Dumping the Bag?

At $92M, this isn't some tourist cashing out souvenir Satoshis. The transaction lands as BTC flirts with key support levels—either a genius accumulation strategy or proof even monks get margin calls.

The Real Story Behind the Blockchain

Watch the wallets. When nation-states start treating Bitcoin like forex reserves, it signals institutional adoption... or that someone needs to cover a budget shortfall (looking at you, fiat printers).

One thing's certain—while Wall Street debates ETFs, the smart money's already playing 4D chess with decentralized assets. And Bhutan? They're either about to trigger the next bull run or prove that 'HODL' sounds better in Dzongkha.

A screenshot of Bhutan's last Bitcoin transfer Possible Sale Through Binance? Onchain Lens, another tracking platform, suggested the latest transfer may be headed for Binance. However, Bhutanese authorities have not confirmed any intention to sell. The repeated transactions have fueled speculation in the crypto community that the country could be reducing its reserves. The transfers come as Bitcoin struggles to sustain its gains after reaching a record $124,474 on August 14, 2025. The token has since retreated, trading at $115,415, down 2.51% in 24 hours and nearly 4% over the week. Bhutan Remains a Top Bitcoin Holder Despite the recent transfers and market volatility, Bhutan still holds about 9,969 BTC, valued at roughly $1.15 billion. This places the country as the sixth-largest nation-state holder of Bitcoin, behind the United States (198,022 BTC), China (190,000 BTC), the United Kingdom (61,245 BTC), Ukraine (46,351 BTC), and North Korea (13,562 BTC). A Different Path to Bitcoin Reserves Bhutan’s place in this ranking is notable not just for the size of its holdings but also for how they were accumulated. While other governments mainly obtained Bitcoin through seizures or confiscations, Bhutan built much of its reserves through mining. On-chain data links this activity to Ant Pool, with operations powered by the nation’s hydroelectric resources. This mining-based approach sets Bhutan apart from other state holders.