What is really happening with Bhutan here, are they in panic mode too?

[mirakal]

At its peak in October 2024, Bhutan reportedly held around 13,000 BTC. Now that holding is said to be down by around 70%, which is a huge drop already.

Not fully confirmed if all of that was really sold, but some coins were moved to wallets linked to exchanges, so that’s why people are talking about it now.

What do you think is going on here? Do they expect the market to stay bearish from here, or is this just a normal move on their side and nothing more?

For me this does not look like clear panic selling yet, but it’s still something worth discussing.

https://coinmarketcap.com/academy/article/bhutan-transfers-dollar23m-in-btc-holdings-down-70percent-from-peak

[SeriouslyGiveaway]

At its peak in October 2024, Bhutan reportedly held around 13,000 BTC. Now that holding is said to be down by around 70%, which is a huge drop already.

Not fully confirmed if all of that was really sold, but some coins were moved to wallets linked to exchanges, so that’s why people are talking about it now.

What do you think is going on here? Do they expect the market to stay bearish from here, or is this just a normal move on their side and nothing more?

For me this does not look like clear panic selling yet, but it’s still something worth discussing.

You can see details of Bhutan holding there with Arkham Intelligence.
https://intel.arkm.com/explorer/entity/druk-holding-investments

You are right that the portfolio was down a lot since September 2025 as the chart of Druk holding investments shows.

One research post from Arkham Intelligence.
Bhutan controlled address has transferred 929 BTC, worth $66.1M

[noorman0]

Who knows? The problem is, those major exchanges operates various businesses that generate passive income. Institutional-scale holders like Buthan certainly have prior agreements with insiders. Or perhaps Buthan is secretly following in the footsteps of Mara Holding, which shifted its business strategy from mining to something else. I recall that Buthan also operates a large-scale mining farm.

[Bastketsrus]

Who knows? The problem is, those major exchanges operates various businesses that generate passive income. Institutional-scale holders like Buthan certainly have prior agreements with insiders. Or perhaps Buthan is secretly following in the footsteps of Mara Holding, which shifted its business strategy from mining to something else. I recall that Buthan also operates a large-scale mining farm.

You could be right, big players often have more going on behind the scenes. It wouldn’t be surprising if they’re quietly shifting strategies instead of relying only on mining.

[mirakal]

One research post from Arkham Intelligence.
Bhutan controlled address has transferred 929 BTC, worth $66.1M

I saw Binance there, so that confirms they sold a big portion of their Bitcoin. Too bad, they are not real holders, and considering they just earned that Bitcoin, they should be the ones who would not panic easily.

That’s the only thing I can see there. When they sold, it really looked like panic, because if they were really going to sell, then why not do it when Bitcoin price was still high.

Maybe they are just good at mining, but not really good when it comes to investment management. You agree?


@Easteregg69 im not shit but still can't relate.. is that  poem?

Some shit people can relate to even if they don't have a clue. Hence the music. Neighboors run the lawn mover to avoid interference.

[avp2306]

At its peak in October 2024, Bhutan reportedly held around 13,000 BTC. Now that holding is said to be down by around 70%, which is a huge drop already.

Not fully confirmed if all of that was really sold, but some coins were moved to wallets linked to exchanges, so that’s why people are talking about it now.

What do you think is going on here? Do they expect the market to stay bearish from here, or is this just a normal move on their side and nothing more?

For me this does not look like clear panic selling yet, but it’s still something worth discussing.

https://coinmarketcap.com/academy/article/bhutan-transfers-dollar23m-in-btc-holdings-down-70percent-from-peak

This shows how uncertain the action done by government and this signs indicate that they are not rely open for challenges, but rather they are there for profitability reasons only.

But its good to see that there's no much bigger effect happens and Bitcoin continue to perform good despite of those dumps fuds done by media's. What still good situation there is Bhutan still have Bitcoin holdings. Maybe in future they think about buying or proceed with their good actions done before. Then realize that those dumps they made is huge mistake and they can able to hold then possibly earn more from this coin in future.

[Easteregg69]

It's weekend so it does not leave a lot of room for panic.

Forces of Babylon high on a G. I was dressed up as a rich man on shares.

Teaching Paul to STFU was not a lot of succes. Some wants to live on debt while others wanna see if they can make it from dividends on top of being rich.

Sworn in to put a full stop on bullshit jobs. In precious metals mining outsourced now. Weekend. We wait for the full chain to step up. Selling Jesus again on a Sunday.

Some shit people can relate to even if they don't have a clue. Hence the music. Neighboors run the lawn mover to avoid interference.

Grass was build for just that. I be looking for a sound rewinder. 420.. You be using dynamite inside mountains. Popular number would be "79" in racing. Since 76 is taken. Steam on gambler. Change. Be a gamer! Guys.

One day I can afford to get kicked out from the most sacred. I test your claims. It's on Bass asking. "Why should I give up to a full man?". Full base.. Since Babylon panser started asking.

You know Paul is Oste. Amongst claims. Still flushing shit from this morning. Tell you the cisterne is full. In a metaphysical sense. From all that good kitchen duty. It's the kick back.

You know I carry the shit before I flush it.

[KiaKia]

I personally don't care, they are here for profit making and they can't withstand the pressure that comes with it? This shows how unready they were,  and I am disappointed, they should know better.

If a country is buying Bitcoin heavily they should also be prepared for the down times too, the part where Bitcoin needs to retrace is going to keep happening, price will always go up and also come down.

I've started to see businesses shifting from bitcoin mining to data center, maybe some countries will consider this too? I don't see anything that's better than Bitcoin honestly, if any country has Bitcoin now they are best holding for long term.

[PrivacyG]

If you care about the Bhutan sale then you should be really worried that Germany sold their Bitcoin a long time ago.  You would think a country as significant as Germany would take some of the best decisions but look how that ended.  They missed out on Billions of Dollars.  There fore.  Does it really matter which country is holding and which is not?

[Easteregg69]

I personally don't care, they are here for profit making and they can't withstand the pressure that comes with it? This shows how unready they were,  and I am disappointed, they should know better.

If a country is buying Bitcoin heavily they should also be prepared for the down times too, the part where Bitcoin needs to retrace is going to keep happening, price will always go up and also come down.

I've started to see businesses shifting from bitcoin mining to data center, maybe some countries will consider this too? I don't see anything that's better than Bitcoin honestly, if any country has Bitcoin now they are best holding for long term.

You be outsourcing so your not the only one rich.

[Easteregg69]

If you care about the Bhutan sale then you should be really worried that Germany sold their Bitcoin a long time ago.  You would think a country as significant as Germany would take some of the best decisions but look how that ended.  They missed out on Billions of Dollars.  There fore.  Does it really matter which country is holding and which is not?

It's just the subject of the conversation. No worries.

My nature.. Had Digibyte on calls. How you call a kicked back? You let it stand unspend.. Dots to connect. Anything makes sense from here.

My fear and greed is around 50/50 for the time being. Thermo.. You know i am a master in finding an overshadowing rule set. I worked with weighed by importance rules in a relations database back in the days. By making new rules that pushes the old ones around. By subject.

[dansus021]

What do you think is going on here? Do they expect the market to stay bearish from here, or is this just a normal move on their side and nothing more?

Simple answer they took profit I mean if I were bhutan government or bhutan miner I would take profit for a good reason, If I was miner, Im going to take profit to pay sallary and build another infrastructure, If I was a government this money could benefit my people like building bridges, school hospital and other. Which total make sense in my opinion.

Look the founder of Ethereum Vitalik buterin also take profit in the recent news Ethereum foundation also sell their ETH for you know grant, operation and other. No one in this world gonna holding their bitcoin unless they are maxis and have ton of money that didnt need to sell their holding for "money" reason.

Well known company Strategy at least for now they didnt sell their holding and want to keep more but I do believe they at some point are going to sell their bitcoin when profitable enogh for the company. Tesla the first big company that I know hold bitcoin also sell their holding for cash liquidity.

If this real bear market I expect bitcoin gonna reach to 100K for the last time and go down.

[Easteregg69]

You pull it to a distance. Root boys in control.

Cheers. Tell you man. I dumped that system because it was completely abused.

People would find out we don't grow shoes on trees as they invent it. They would be taught to lean in and smell the glue. First.. See how many beers you got left.

8 minus 1. Seven. Lucky number + one. 13 is when you get to drunk.

[arzuo]

This may also be their varied preparations, so the transfer money is not guaranteed to be monetized.
Maybe the market will drop a little, but there is nothing to worry about, Because such events often happen with Bitcoin,
I have heard many news stories since 2014, many times I thought that Bitcoin would end, but I could not do anything!

[Easteregg69]

This may also be their varied preparations, so the transfer money is not guaranteed to be monetized.
Maybe the market will drop a little, but there is nothing to worry about, Because such events often happen with Bitcoin,
I have heard many news stories since 2014, many times I thought that Bitcoin would end, but I could not do anything!

Did I mention I had to put the stack up myself to be taken seroius? Loud speakers for countryside use. Act king on chance.

Thank you for not mentioning being nice. Ice. Tell Brian the pope don't go to usa after death treats from the us president council.

They got Pete for flamable fur ball after SBF.  I be a rider that came 2000 years after the holocaust.

[Sanitough]

This may also be their varied preparations, so the transfer money is not guaranteed to be monetized.

Portion of them went to an exchange... what's the purpose of moving it?

[Easteregg69]

This may also be their varied preparations, so the transfer money is not guaranteed to be monetized.

Portion of them went to an exchange... what's the purpose of moving it?

People needs the sound of hits from the bong.

Your sure you still want Greenland? High on Church!

 I learn to control things at will as it goes. I saw Trump visiting Paradise after it burned to the ground to put flag on it.

Ice be in your drink when you get to it. He gets a pepsi for pressing the red button.

God don't fathom why he had to be alone for a start. Clearly off-topic. Swearing to not being a cop.

[Chibit01]

I saw Binance there, so that confirms they sold a big portion of their Bitcoin. Too bad, they are not real holders, and considering they just earned that Bitcoin, they should be the ones who would not panic easily.

Maybe there are more to there action which are not public online, as I also read it's being since 2025 since there was inflow from mining earning to there wallet, it could be they are not just selling off all that have been earned through mining but are also stopping anything that have to do with mining probably there have been change in there initial decision and might want to focus on other things redirecting the funds gotten from mining to it.

[Easteregg69]

One cop bid me to turn of the motor as I sleept it of in snowstorm.

You know your wiser. Mouth wash. You need some time where the music don't sound stupid. Beyond trance. When you know you got candle ready.

People don't hate idiots for a living when I am done with them. Cheers. Only friends. Still thinking about revenge.

Analphabets coming running with school bags. Put a real party on. S9me thing that is of limits would be ok. The smart bitches would line up. People that remind me of you.

Insinuating a lot of stuff.

[snowpega]

At its peak in October 2024, Bhutan reportedly held around 13,000 BTC. Now that holding is said to be down by around 70%, which is a huge drop already.

Not fully confirmed if all of that was really sold, but some coins were moved to wallets linked to exchanges, so that’s why people are talking about it now.

What do you think is going on here? Do they expect the market to stay bearish from here, or is this just a normal move on their side and nothing more?

For me this does not look like clear panic selling yet, but it’s still something worth discussing.
...

Bhutan has been selling its bitcoin holdings from some long time, but the reason behind it no one know exactly; maybe they are selling to buy again at a lower point, or they need that sold amount of bitcoin to use or invest to boost the economy or to build the infrastructure. But I am literally reading such news and thread from so long time here and on other forums.

You can also notice one thing that there is no pressure on the bitcoin market, even though Bhutan is selling its bitcoin holding, and bitcoin is also consolidating between the price tags of 60k and 75k, which is a good thing, as such a price may be considered less volatile. And if the bitcoin price crashes below the 50k level, then in my point of view, it is a bearish zone for the bitcoin market. What do you think about it?