According to Onchain Lens, the Royal Government of Bhutan transferred approximately 319.7 BTC (about $22.68 million) to two addresses. About 250 BTC were transferred to a wallet previously used to raise funds through sales via Galaxy Digital and OKX, while the remaining 69.7 BTC were sent to a new unmarked address. According to Arkham data, the Bhutanese government has transferred $215.7 million worth of Bitcoin from its holding addresses this year, with $162.6 million going to unmarked wallets. Following this transfer, Bhutan currently holds 3,954 BTC, worth approximately $280.6 million. The country held approximately 13,000 BTC at its peak in October 2024, and its Bitcoin assets are managed by the sovereign wealth fund Druk Holding and Investments Ltd. Bhutan had previously accumulated Bitcoin holdings through mining operations supported by hydropower, but according to Arkham data, its last record of more than $100,000 in Bitcoin inflows was a year ago.