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The Royal Government of Bhutan has transferred 319.7 BTC, worth about $22.7 million, to sales-linked wallets, continuing a steady reduction of its Bitcoin reserves tracked by Arkham Intelligence. So far this year, Bhutan has quietly moved large amounts of BTC as its sovereign stack drops significantly from a late-2024 peak of over 13,000 BTC to under 4,000 BTC, part of broader ongoing Bitcoin outflows tied to funding needs and strategic reserve management.
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