Bhutan’s government has quietly moved 121.89 BTC to a new wallet address, sparking curiosity among crypto watchers. The transfer, valued at over $8 million, appears to be part of a broader trend of sovereign crypto treasury activity.
While Bhutan has kept a low profile in global crypto discussions, recent blockchain data shows it is increasingly active in managing its digital assets. This move may reflect internal strategies related to custody, security upgrades, or asset restructuring.
LATEST: Bhutan’s government moved 121.89 $BTC to a new wallet today. pic.twitter.com/gcp914ZTIG
— Cointelegraph (@Cointelegraph) October 20, 2025
A Look at Bhutan’s Growing Crypto Strategy
This isn’t Bhutan’s first step into Bitcoin. The country has previously been revealed to be accumulating digital assets, including BTC and ETH, through its investment arm Druk Holding & Investments. Unlike many nations that approach crypto with hesitation, Bhutan has shown a calculated, behind-the-scenes commitment to digital assets.
By transferring funds to a new wallet, Bhutan could be responding to shifting security standards, consolidating its assets, or preparing for future crypto-based projects or infrastructure investments. These quiet moves hint at long-term planning rather than speculation.
Sovereign Bitcoin Holdings on the Rise
Bhutan is part of a growing club of countries exploring or investing in Bitcoin as part of their national reserves or development plans. While El Salvador has taken a loud and public approach, Bhutan’s strategy remains discreet but equally intriguing.
Such transfers are often routine among institutional and governmental holders, but they also reinforce the growing role of Bitcoin in sovereign finance. The transparency of the blockchain allows the world to watch, even when no official statement is made.