Bhutan Sells 738 Bitcoin to Fund Development Projects
- On June 6, Bhutan moved another 738 BTC valued at approximately $44.88 million.
- The transfer is part of a drawdown that has reduced state BTC holdings significantly since their peak in 2024.
- Sales are linked to funding the Gelephu Mindfulness City megaproject, a key development initiative.
- Druk Holding and Investments (DHI) manages these transactions, using over-the-counter channels to avoid market impact.
- Bhutan’s bitcoin reserves have fallen sharply from over 13,000 BTC, with recent sales continuing this trend.
Bhutan’s government continues to sell its bitcoin holdings to support national projects like the Gelephu Mindfulness City, illustrating how mined cryptocurrency can be converted into real-world infrastructure without disrupting the market. This strategic approach allows Bhutan to gradually reduce its bitcoin reserves while funding significant economic initiatives.(Source)
