The Kingdom of Bhutan has discreetly transferred $63 million worth of Bitcoin into three separate wallets, according to data analyzed by Onchain Lens via Arkham Intelligence. The transaction took place on March 24 and underscores the nation's deepening involvement in cryptocurrency.

One of the wallets now holds 600 BTC—valued at about $53 million—highlighting Bhutan’s expanding digital treasure chest. The country's crypto strategy has been quietly building since 2019, powered by its vast hydroelectric resources, which enable cost-effective Bitcoin mining.

Arkham previously linked Bhutan’s digital activity to Druk Holdings, the sovereign investment arm. As of now, Druk’s main wallet holds close to $890 million in Bitcoin—amounting to roughly 30.7% of Bhutan's entire GDP, which stood at $2.9 billion in 2023.

Despite the heavy focus on Bitcoin, the government’s crypto portfolio is diversified. Alongside BTC, the wallet includes $334,580 in Ether and smaller holdings of coins like LinqAI (LNQ), Phil (PHIL), and Apu Apustaja.

This isn’t the first major move. In October 2024, Bhutan shifted $66 million in Bitcoin to Binance. Over recent months, it has consistently funneled Bitcoin and Ether from its main reserves to other addresses, sparking speculation about its broader strategy.

Bhutan’s embrace of crypto goes beyond national policy. In January 2025, its Gelephu Special Administrative Region revealed plans to adopt digital assets as part of its reserve system.

Globally, more governments are joining the crypto reserve trend. El Salvador’s Bitcoin stash hit $100 million in late 2024, and the U.S. now holds over $17 billion in BTC. U.S. states like Texas and Arizona are also inching toward Bitcoin reserve laws—though not without pushback.