The Bhutanese government is shifting a portion of its Bitcoin (BTC) holdings to a different wallet.
The crypto de-anonymizing platform Arkham notes that Bhutan’s government recently moved $7 million worth of BTC to a Segregated Witness (SegWit) address.
Arkham says the move could indicate a potential transfer or sale.
“Bhutan will periodically move small amounts of BTC to Segwit addresses, which appear to be separate to its P2SH holdings cluster. They are down 10,000 BTC from their peak of ~13,390 BTC in October 2024.”
The crypto intelligence platform notes the Bhutanese government has moved $237.39 million worth of BTC from their wallets to Segwit addresses since the start of 2026.
SegWit addresses are designed to offer lower transaction fees and better scalability than Bitcoin’s Legacy addresses.
Bhutan’s government currently owns $234.33 million worth of BTC and about $68,000 worth of Ethereum (ETH), per data from Arkham.
The Bhutanese government has long expressed an interest in digital assets: Back in 2021, the nation’s Royal Monastery Authority (RMA) collaborated with Ripple on a central bank digital currency (CBDC) pilot project, exploring the potential for CBDCs to enhance cross-border payments.
Bitcoin is trading at $77,571 at time of writing. The top-ranked crypto asset by market cap is up more than 1.1% in the past 24 hours.
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