Multiple outlets report that Bhutan is continuing to reduce its bitcoin holdings. Based on blockchain-tracing analysis attributed to Arkham, the kingdom has reportedly sold or transferred roughly $230 million worth of bitcoin during 2026, with additional movements continuing as sell-off activity persists. One report says Bhutan appears to move about $50 million in BTC each month this year, while another notes a specific transfer of about $8.1 million in bitcoin amid ongoing reductions. Despite these outflows, both accounts indicate that Bhutan still holds a substantial balance. According to the figures cited, Bhutan retains about $252 million in bitcoin remaining after the reported sales or transfers. The reports characterize the activity as steady liquidation or reallocation rather than a single one-off event. Both sources rely on publicly observable wallet and transfer patterns rather than statements from Bhutan, and they describe amounts and timing using estimates from the tracking service.