Bhutan puts pressure on Bitcoin price through continued sale

Bhutan, the tiny Asian mountainous country wedged between superpowers China and India, became incredibly wealthy a few years ago thanks to a shrewd Bitcoin investment. But now they’re selling their crypto holdings to make new investments. Because Bhutan is one of the largest Bitcoin holders among global governments, this is putting pressure on the price.

2021

Emigration (the departure of many of its own inhabitants to a neighboring country) and a large amount of green energy catapulted Bhutan (a very small Asian country with less than a million inhabitants) to the fourth place of Bitcoin owners in the country ranking a few years ago.

Bhutan acquired a large number of empty buildings (mainly schools and other government buildings) due to mass emigration. Furthermore, its geographical location provided the country with a great deal of cheap hydropower. These two factors led Bhutan to purchase Bitcoin mining equipment in 2021 (just as China banned Bitcoin in the country) and install it in those empty buildings. Thanks to the cheap energy, the country became rich overnight by constantly mining for Bitcoin.

BHUTAN JUST SOLD $6.7 MILLION BTC

Bhutan has been selling Bitcoin every week for the past 3 weeks. pic.twitter.com/cLL3fb2Ckh

— Arkham (@arkham) February 13, 2026

But now that the Bitcoin price is falling, Bhutan is trying to cash in on its wealth quickly. According to Arkham research, Bhutan has been selling millions of dollars’ worth of Bitcoin for the third week in a row, which is naturally putting increasing pressure on the price as analysts expect the sale to continue as long as the price keeps dropping.