đŞ Bhutanâs Bitcoin Exodus Accelerates
Bhutan has moved another 100âŻBTC, worth about $7.8âŻmillion, pushing total sales this year to $207âŻmillion and leaving roughly $265âŻmillion in reserve. At the current burn rate the kingdom could be flatâlined on Bitcoin by October, and mining activity appears to have ground to a halt.
đ¸ď¸ The rapid liquidation signals a strategic retreat rather than a marketâdriven panic; the stateâs crypto fund has been a net buyer of BTC since 2020, so the shift likely reflects fiscal pressure or a policy pivot. With the bulk of holdings slated for disposal, shortâterm supply pressure could nudge spot prices lower, but the impact will be muted unless other sovereign funds follow suit. Meanwhile, ETHâs onâchain activity remains steady, suggesting the broader ecosystem isnât directly tethered to Bhutanâs moves.
đď¸ If Bhutanâs dump accelerates, expect a modest dip in BTCâs price floor, but the real story will be the policy signal to other emergingâmarket treasuries.
âď¸ Personal analysis only. Not financial advice. DYOR.
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