The Royal Government of Bhutan transferred about 375 BTC (~$25.18M) on March 31, 2026, bringing its week-long outflows to over 1,000 BTC, according to Arkham Intelligence.
The Royal Government of Bhutan moved 973 BTC (about $72.3 million) between March 17–18 as part of routine treasury management, not a sudden sale. Blockchain activity points to internal reallocation rather than on‑ramp deposits to exchanges.
Arkham Intelligence on-chain data shows Bhutan’s royal government transferred 100 BTC (≈$6.77M) to an address linked to QCP Capital. The shift highlights visible sovereign wallet activity routed to an institutional trading desk.