Bhutan Liquidates $120 Million in Bitcoin, Reducing Reserves by 60%

Bhutan has significantly reduced its Bitcoin holdings, liquidating approximately $120 million since the beginning of the year. According to NS3.AI, this move has decreased Bhutan's digital reserves by over 60% from their peak levels. Recently, 123.7 BTC, valued at around $8.5 million, was transferred to a previously unused address following a larger divestment of 519.7 BTC just 48 hours earlier. Bhutan's Bitcoin holdings have dropped from a high of 13,000 BTC to approximately 4,300 BTC.