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The Royal Government of Bhutan has transferred nearly 1,333 BTC in just a week, fueling speculation over its crypto strategy as Bitcoin trades under pressure around $112,000.
🚨Just in: The Royal Government of Bhutan moved 419.5 $BTC ($47.2M) to a new wallet, with total reserves now at 9,232 #Bitcoin ($1.04B).#CoinPedia #CryptoNews #Blockchain #CryptoMarket pic.twitter.com/AWzqZWigGS
— Coinpedia (@CoinpediaNews) September 24, 2025
419.5 BTC Shifted in Latest Move
On Wednesday, the Bhutanese government moved 419.5 BTC, worth approximately $47.23 million, from its labeled wallet to a new address. The transaction follows last week’s transfer of 913 BTC, bringing the total outflow to more than $150 million in under seven days.
According to blockchain tracker Lookonchain and multiple crypto data aggregators, Bhutan’s primary wallet now holds around 9,232 BTC, valued at over $1 billion at current prices.
Macro Backdrop: Fed Policy Clouds Market Outlook
Bhutan’s Bitcoin reserves originate primarily from state-funded mining operations, managed through Druk Holding & Investments, the sovereign investment arm. Earlier this year, analytics firm Arkham revealed the scale of Bhutan’s holdings, making it one of the few sovereign states actively accumulating Bitcoin outside of legal seizures.
The timing of Bhutan’s transfers coincides with renewed uncertainty in global markets. Recent comments from Federal Reserve Chair Jerome Powell emphasized caution on inflation, dampening expectations of aggressive interest rate cuts. The hawkish tone has pressured risk assets, including Bitcoin.
While it’s unclear whether Bhutan’s moves represent routine treasury reorganization or signal upcoming sell-offs, the transactions highlight the kingdom’s unique position as a sovereign Bitcoin holder navigating global economic headwinds.
