Bhutan offloads 512 BTC as Bitcoin hits $123K – record sales over 4 days amid market highs. From July 10 to 14, Bhutan sold Bitcoin worth a total of $59.47M, while some major players were instead buying digital gold amid all-time highs.
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Accelerated Binance Transactions: 512 BTC in 4 Days
The Royal Government of #Bhutan has been accelerating its $BTC sales!
— Lookonchain (@lookonchain) July 14, 2025
In the past 4 days alone, #Bhutan sold 512.84 $BTC($59.47M) — selling every day.
They still hold 11,411 $BTC($1.4B).https://t.co/hiNf1ySQhUhttps://t.co/dcqekOeedc pic.twitter.com/b3cQy0ryk8
We are seeing an interesting precedent: for four consecutive days, from July 10 to 14, a wallet belonging to the Royal Government of Bhutan sent Bitcoin to Binance on a daily basis. The recorded transactions include:
- 99.466 BTC ($12.05M) – July 14
- 100.215 BTC ($11.83M) – July 13
- 104.676 BTC ($11.99M) – July 12
- 208.486 BTC ($23.60M) – July 10
All transactions were routed through the same Binance deposit address, indicating a systematic liquidation of part of the holdings. Lookonchain notes that these outflows continue daily, which may suggest either a pre-planned selling schedule or a reaction to market conditions. According to Arkham, the transactions have been verified and correspond to the official wallet of the Kingdom.
Earlier, on July 11, 2025, Lookonchain reported that the Bhutanese government had liquidated a total of 2,262 BTC ($200.46M) over the past year, through six large-scale transaction clusters. The average selling price was $88,612 per BTC. Despite the ongoing sell-off, Bhutan still retains a substantial crypto reserve.
The current wallet balance stands at 11,411 BTC, equivalent to approximately $1.4B at current market rates. This means that even after partial profit-taking, the sovereign fund remains one of the largest BTC holders among nation-states.
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Conclusion
The ongoing Bitcoin sales by the Kingdom of Bhutan point to a consistent strategy of partial asset liquidation, possibly aimed at diversification or liquidity provisioning. At the same time, the scale of the remaining reserves enables the state to maintain significant influence over the global BTC holding landscape. Stay tuned for more updates on crypto, blockchain, and DeFi.
