Bhutan has sold 70% of its bitcoin in 18 months. It may have stopped BTC mining too.

📰 CoinDesk


📉 Bearish

AI Summary

Bhutan has drastically reduced its Bitcoin holdings by 70% over 18 months, selling off most of its BTC reserves and appears to have largely ceased mining operations. The country moved $215.7 million worth of Bitcoin out of its treasury this year alone.

Market Impact

This represents significant selling pressure from a sovereign holder and could signal weakening institutional confidence. The large-scale disposal may create downward price pressure and encourage other institutional holders to reassess their positions.

💡 Trader Note: Monitor for additional selling pressure from other sovereign Bitcoin holders and watch for support levels as institutional selling often occurs in tranches over time.