Bhutan Transfers $72M in Bitcoin, Questions Raised About Mining Operations and Market Behavior

The Royal Government of Bhutan has transferred approximately $72 million worth of Bitcoin over 24 hours, originating from the country's sovereign wealth fund, Druk Holding & Investments. The transfers involved 973 BTC moved across multiple addresses, with a portion sent to OTC trading platform QCP Capital. Bhutan's Bitcoin holdings have declined from a peak of 13,000 BTC to around 4,453 BTC, valued at $330 million. The country's approach to managing digital assets typically involves splitting funds across multiple wallets and routing them through OTC platforms to avoid market disruptions.