Bhutan transferred 973 Bitcoin through a series of controlled sales, executing six transactions with each transaction valued between $5 million and $10 million to minimize market impact. Since 2024, Bhutan has been systematically reducing its Bitcoin reserves. At that time, Bhutan held over 13,000 Bitcoin, while it now holds approximately 4,400 Bitcoin, valued at over $320 million. This shift from an accumulation-type asset to active asset management indicates that Bhutan has adopted a more pragmatic strategy, utilizing Bitcoin as a source of liquidity during periods of market uncertainty.

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