Druk Holdings Does the Crypto Shuffle: Bhutan Quietly Moves $45M Bitcoin Out the Door

The Royal Government of Bhutan has been up to something interesting lately. According to Arkham Intel data, the tiny Himalayan nation moved 643 BTC—worth over $45 million—to external wallets over the past two days. Because nothing says "small country, big moves" like shipping out nine figures in crypto while the rest of us are still figuring out how to explain self-custody to our grandmothers.

Bhutan, remember, was one of the first sovereign governments to get into the Bitcoin mining game, harnessing surplus hydroelectric power to dig for digital gold. Those were the days. While other nations were debating whether crypto was money or magic internet beans, Bhutan was over there literally powering ASICs with mountain water and living its best degen life. The government basically became the original "clean energy" miners before it was cool—and before it became uncool.

The kingdom once held more than 13,000 BTC, but appears to be systematically converting its digital reserves into old-fashioned capital. At press time, Bitcoin was trading at $66,500, down 4% in the last 24 hours. Timing the market? More like timing the exit. Either way, someone in Thimphu is either having a