Bhutan Moves 375 BTC in New Sovereign Bitcoin Sell-Off
The Royal Government of Bhutan moved roughly 375 BTC — about $25.18 million at the time — on March 31, 2026, according to on-chain tracking from Arkham Intelligence. That transfer raises Bhutan's cumulative bitcoin outflows to more than 1,000 BTC over the past week, signaling a sustained round of sovereign-scale disposals that on-chain analysts have been monitoring.
Sovereign transfers of this size can add near-term selling pressure or increase volatility as the market absorbs extra supply, though Arkham's data does not confirm whether the coins were sent to exchanges or custodial holders. The episode underscores how transparent on-chain monitoring has become a key tool for traders and institutions assessing supply-side risks; continued government flows would likely be watched closely and could influence Bitcoin price dynamics in the short term.