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Bhutan Moves 90 Bitcoin Worth $7 Million, Arkham Says

Bhutan Moves 90 Bitcoin Worth $7 Million, Arkham Says

According to Arkham, Bhutan has transferred about $237.39 million in Bitcoin to SegWit addresses this year, while on-chain data and prior transactions have intensified scrutiny over whether the country is reducing its sovereign BTC exposure.

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Fact Check
The originating source — Arkham's own X posts (status/2058835319185924411 and status/2058835324088807845) — directly states Bhutan moved 90 BTC (~$7M) to a Segwit address and that $237.39M in BTC has been transferred to Segwit addresses since the start of 2026. Cryptopolitan independently corroborates these figures.
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Summary

Bhutan transferred 90 BTC worth about $7 million to a SegWit address, according to Arkham, bringing the total value of Bitcoin moved to SegWit addresses this year to about $237.39 million. Arkham said Bhutan still holds about $233.18 million in BTC, and on-chain data shows Bhutan-linked holdings have fallen by around 10,000 BTC from a peak of roughly 13,390 BTC in October 2024. The new report adds historical context for the transfers, including a 100 BTC move on April 29 and a 319.7 BTC transfer on April 11, with about 250 BTC from the latter reportedly moving into wallets previously associated with routing funds toward Galaxy Digital and OKX. Druk Holding and Investments, which reportedly built Bhutan’s reserves through hydropower-backed mining, has not publicly commented on the transfers or on the status of its mining operations.

Terms & Concepts
  • SegWit: A Bitcoin network upgrade that changes how transaction data is structured, helping improve transaction efficiency and increase usable block space.
  • BTC: The ticker symbol for Bitcoin, the native cryptocurrency of the Bitcoin network.
  • Arkham: A blockchain analytics platform that tracks on-chain wallet activity and digital asset movements.