
Bhutan’s government-linked wallets moved over 184 BTC after months of inactivity, sending funds to exchanges and trading firms during a sharp crypto and global market selloff.
Bhutan has transferred more than 184 BTC, valued at about $14 million, from government-linked wallets after roughly three months of inactivity. The moves, tracked by Arkham, occurred as Bitcoin prices fell below $71,000 during a broader market downturn. Transfers went to new addresses and to known counterparties such as QCP Capital and a Binance hot wallet, suggesting potential trading, liquidity management or sales. This activity contrasts with Bhutan’s typically prolonged holding strategy and underscores a wider trend of large entities using Bitcoin as an active balance-sheet tool during periods of market stress.