Bhutan Moves 100 BTC to QCP Capital, On-Chain Data Shows

Published at 2026-02-12 21:31:38

On Feb. 12, 2026, on-chain data from Arkham Intelligence revealed that Bhutan’s royal government moved 100 BTC—about $6.77 million at current prices—into an address associated with QCP Capital, the Singapore-based institutional trading firm. The transfer was observable on public ledgers and ties a sovereign wallet to a professional counterparty, making the flow transparent to observers.

The move matters because routing sovereign holdings through an institutional desk can indicate liquidity management, OTC execution, or treasury rebalancing without immediate market disruption. While the government's motives are not public, the transaction underscores growing institutional interaction with Bitcoin and the increasing utility of on-chain monitoring for traders, exchanges and regulators tracking large sovereign flows.

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