Is Bhutan secretly selling Bitcoin? 70% reduced in 18 months 📉

On-chain data shows that the Bhutanese government recently transferred about 319.7 BTC (about $226.8 million) to two new addresses, with 250 BTC entering a wallet previously used for fund routing.
📊 Changes in Bhutan’s Bitcoin reserves:
October 2024: about 13,000 BTC
Currently: about 3,954 BTC
Reduced by about 70% in 18 months
This year, a total of about $215.7 million BTC transferred out
⚡ Mining activity has also changed:
Bhutan once relied on hydroelectric power to mine Bitcoin, but data shows that its mining pool has had no inflows of BTC worth more than $100,000 for over a year, indicating that related mining operations may have significantly slowed down, or even paused.
🧠 My view:
Funds flowing through national-level addresses are often more geared toward asset management and fiscal adjustments, and do not necessarily mean a long-term bearish outlook on Bitcoin. However, large-scale selling could indeed affect market sentiment in the short term.
💡 Words of inspiration:
In the crypto market, large funds adjust their positions, and the market keeps fluctuating. But people who can truly get through the cycle are often not those who chase every piece of news, but those who stick to their long-term logic. 🚀#Gate上线Pre-IPOs #原油小幅上涨 #加密市场回升 #易理华成立AI基金OpenXLabs $BAS