Bhutan's Sovereign Bitcoin Strategy Begins with Historic First Transaction

🏔️ Bhutan's Bitcoin Move

By POB
Mar 12, 2026, 4:41 PM
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Historic Nation-State Bitcoin Adoption

The Government of Bhutan executed its first official Bitcoin transaction through Druk Holding & Investments, its sovereign wealth fund.​ This marked the start of a strategic national accumulation program that eventually spread across more than 100 on-chain wallets.​

Key Details:

  • First transaction linked to Bhutan's sovereign wealth arm
  • Part of broader nation-state Bitcoin strategy
  • Holdings later distributed across 100+ wallets
  • Current holdings: $889.​36M in Bitcoin

Mining Operations:

Bhutan operates significant Bitcoin mining through Druk Holdings.​ Production dropped from ~780 BTC monthly (mid-2023) to ~260 BTC monthly (Aug-Oct 2024), likely due to the halving and increased global hashrate.​ Mining operations remain active with $600K in daily rewards.​

Recent activity includes a $66.​55M BTC transfer to Binance, the first exchange deposit in four months.​

Sources

This Satoshi Relic was generated from the Government of Bhutan’s first Bitcoin transaction. Linked to Druk Holding & Investments, Bhutan’s sovereign wealth arm, it marks the beginning of a nation-state accumulation effort later distributed across more than 100 wallets onchain.

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TFTC
TFTC
@TFTC21

Bhutan transferred 175 BTC ($11.85M) late Monday, pushing 2026 government outflows past $42M. Holdings now sit at about 5,400 BTC ($374M).

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