Bhutan disputes $1B Bitcoin sell-off claims, says it doesn’t recall sales
Bhutan is facing scrutiny over claims that it sold approximately $1 billion worth of Bitcoin. Despite on-chain data indicating a significant reduction in its Bitcoin reserves, Bhutanese officials assert they do not recall any sales. The situation has raised questions about the country's cryptocurrency management and transparency.
- ▪On-chain data shows that Bhutan's Bitcoin reserves have decreased by about 75% since late 2024.
- ▪The country held roughly 13,000 BTC as of October 2024, primarily accumulated through its state-owned investment arm.
- ▪By spring 2026, Bhutan's Bitcoin holdings had dropped to between 3,100 and 3,400 BTC.
Opening excerpt (first ~120 words) tap to expand
<img src="https://static.cryptobriefing.com/wp-content/uploads/2026/05/16131525/file-flag-of-bhutan-svg-wikimedia-commons-1-800x420.jpeg" alt="Bhutan disputes $1B Bitcoin sell-off claims, says it doesn’t recall sales" class="w-full aspect-[19/10] object-cover" /> Bhutan disputes $1B Bitcoin sell-off claims, says it doesn’t recall sales On-chain data shows roughly 75% of the country's Bitcoin reserves have vanished since late 2024, but Bhutanese officials say they have no memory of selling. Share Add us on Google by Editorial Team May. 16, 2026 Bhutan, the small Himalayan kingdom that quietly became one of the world’s most unlikely Bitcoin whales, is now at the center of a genuinely bizarre standoff.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Crypto Briefing.
Discussion
0 commentsMore from Crypto Briefing
