Bhutan transfers $14.75M in Bitcoin to Binance while Holding $1.28B Reserve
Thimphu, Bhutan - June 30, 2025 – The Kingdom of Bhutan has deposited 137 Bitcoin (worth $14.75 million) to cryptocurrency exchange Binance, according to blockchain analytics platform Arkham Intelligence. This marks the Himalayan nation’s second major BTC transfer in seven months, following a $9.81 million sale in December 2024.
Strategic Treasury Management
The transaction originated from Bhutan’s sovereign wealth wallet linked to Druk Holding & Investments, the government’s commercial arm. Despite the sale, Bhutan retains one of the world’s largest sovereign Bitcoin portfolios:
- 11,924 BTC remaining (worth $1.28 billion at current prices)
- Fourth-largest national BTC holdings after the U.S., China, and El Salvador
- Equivalent to 30% of Bhutan’s $4.2B GDP
Pattern of Controlled Divestment
Analysts observe a deliberate liquidation strategy:
"These aren't panic sales but surgical withdrawals timed for optimal impact," notes Chainalysis economist Kim Grauer. "Bhutan’s $24.5M in total sales represents just 2% of their holdings – barely touching their billion-dollar war chest."
The sales align with Bhutan’s National Crypto Adoption Framework to convert digital assets into tangible development:
- Funding public sector salary increases (2023’s $100M civil servant pay bump)
- Expanding green Bitcoin mining powered by surplus hydropower
- Developing Gelephu Mindfulness City – a crypto-powered economic zone
Hydropower Mining Advantage
Bhutan mines approximately 26 BTC daily using renewable energy. A competitive edge highlighted by Binance CEO Richard Teng during his May 2025 Thimphu visit. This self-sustaining ecosystem turns natural resources into digital gold:
"While Germany’s $425M BTC dump rattled markets, Bhutan’s moves are surgical strikes. They’re writing the playbook for resource-rich micro-economies." – Rahul Advani, APAC Policy Director, Ripple
Crypto Tourism Surge
Concurrently, Bhutan reports a 47% YoY increase in “crypto tourists” high net worth visitors spending $1,000+ daily via Binance Pay at 1,000+ merchants. The trend supports Bhutan’s dual-track crypto strategy: asset accumulation and real-world utility.
Market Impact & Future Outlook
Today’s transfer caused negligible BTC price fluctuation, contrasting with recent German sell-offs. With 92% of reserves untouched and mining operations expanding, Bhutan signals long-term conviction. As the nation prepares its “Druk Digital Ngultrum” token pilot, its balance of accumulation and measured liquidation offers a sovereign blueprint.