Bhutan significantly reduces Bitcoin reserves in early 2026
Since the beginning of 2026, Bhutan has withdrawn about $150 million from its Bitcoin reserves, with over 1,000 BTC sent to exchanges in March alone. This led to the country dropping from the 3rd to the 7th largest state holder of the cryptocurrency, decreasing its current balance to 4,450 BTC.
Source arkm
The substantial reduction in Bitcoin reserves indicates active trading or strategic decisions by Bhutan’s government regarding its crypto assets. The transfer of over 1,000 BTC in one month suggests an accelerated liquidation of part of its holdings.
Such moves could be driven by macroeconomic shifts, liquidity needs, or a reassessment of investment strategy. Bhutan’s drop in the Bitcoin holders ranking reflects changes in state-owned digital currency reserves worldwide.
Previously, Bhutan ranked among the top three largest state Bitcoin holders, showing significant interest and participation in cryptocurrencies. The government likely viewed Bitcoin as a strategic reserve but is now revising its position.
Bhutan’s reduction in Bitcoin reserves could influence the crypto market and reflects broader trends among states balancing their digital asset portfolios. The country’s future strategy will depend on the global financial environment and its internal economic priorities.
