Bhutan transfers 800 Bitcoin, sparking speculation of exchange sale amid IMF debt concerns and $1.15B national crypto holdings.
The Royal Government of Bhutan has moved 800 Bitcoin, worth $92.06 million, to two new wallet addresses, according to on-chain data. This transfer, reported on August 18, 2025, may signal a deposit to a centralized exchange like Binance. Such moves have been followed by the sale of Bitcoin in Bhutan. For example, on August 5 the government moved 517 Bitcoin, worth 59 million USD, to Cobo Custody. In July, it transferred 650 Bitcoin worth the equivalent of 74 million dollars to Binance. Such regular transfers have created speculations on the Bitcoin plan of Bhutan.
Bhutan Holds Nearly 10,000 Bitcoin Worth $1.15B, Sixth Among Nations
According to Arkham Intelligence, Bhutan’s investment arm, Druk Holding and Investments (DHI), continues to hold 9,969 Bitcoin, which is valued at more than 1.15 billion dollars. This makes Bhutan the sixth largest government holder of Bitcoins after the U.S, China, the U.K., Ukrain,e and North Korea. It started stockpiling Bitcoin in 2019, taking advantage of low prices and hydropower to mine it cleanly. Therefore, its reserves of Bitcoin have increased considerably, and they are currently one of the most significant assets of the country.
However, such transfers have led to issues over the 3 billion dollar debt that Bhutan owes the International Monetary Fund (IMF). In 2023, Bhutan received a loan of 400 million dollars in IMF to overcome the economic difficulties such as the stagnation of the GDP and unemployment. The IMF has been skeptical of cryptocurrencies and has cautioned that they have the potential to cause instability to economies. Other critics fear that Bhutan Bitcoin sales might be a move to cope with its debt payments. As an example, selling Bitcoin may be used to pay IMF loans, particularly when the price of Bitcoin soared to 120,000 in July 2025.
Related Reading: Is Bhutan Cashing In? $74M Bitcoin Transfer to Binance at $120K+ Peak | Live Bitcoin News
On the other hand, Bhutan’s Bitcoin moves may reflect strategic profit-taking. It has also sold off parts of its assets at market peaks like the 33.31 million sale to Binance in November 2024. Such sales coincide with the bullish sentiments of Bitcoin indicating that Bhutan is exploiting price jumps. In addition, Bhutan has adopted crypto into its economy. In May 2025, it introduced a national crypto payment system to tourism in cooperation with Binance Pay and DK Bank. This demonstrates how Bhutan is willing to integrate digital resources into its financial plan.
Bhutan’s Bitcoin Moves Raise Questions Over Long-Term Holdings
Bhutan has both crypto challenges despite its proactive crypto policies. The unstable internet connections act as a deterrent in wider adoption. Moreover, the conservative approach to crypto by the IMF may compel Bhutan to cut its dependence on Bitcoin deposits. Critics say the regular sales may undermine the future hold of Bhutan as one of the large Bitcoin holders. On the other hand, the proponents view these decisions as a smart financial strategy that is a trade-off between paying off its debts and the potential of the crypto market.
To sum up, the 800 Bitcoin transfer by Bhutan has become a source of controversy regarding its motives. Although it might be ready to sell on Binance, there is still a cloud of doubt regarding its debt to the IMF and the place of the crypto in its economy. Bhutan has a total of $1.15 billion in Bitcoin assets, which make the country a major participant in the global crypto market. The government has got its eyes on the government as it treads economic pressures and market opportunities.
The post Royal Government of Bhutan Transfers 800 Bitcoin appeared first on Live Bitcoin News.